Question

Hocking Corporation's comparative balance sheet appearsbelow:

	Ending Balance	Beginning Balance
Assets:
Current assets:
Cash and cash equivalents	$62,500	$29,100
Accounts receivable	25,000	30,500
Inventory	68,000	65,500
Prepaid expenses	13,000	15,500
Total current assets	168,500	140,600
Property, plant and equipment	367,000	344,000
Loss accumulated depreciation	166,000	142,000
Net property, plant, and equipment	201,000	202,000
Total assets	$369,500	$342,600
Liabilities and Stockholder's Equity:
Current liabilities:
Accounts payable	$17,500	$13,200
Accrued liabilities	65,500	55,000
Income taxes payable	54,500	51,200
Total current liabilities	137,500	119,400
Bonds payable	83,200	85,200
Total liabilities	220,700	204,600
Stockholder's equity:
Common stock	31,800	30,000
Retained earnings	117,000	108,000
Total stockholder's equity	148,800	138,000
Total liabilities and stockholder's equity	$369,500	342,600

The company's net income (loss) for the year was $11,000 and itscash dividends were $2,000. It did not sell or retire any property,plant, and equipment during the year. The company uses the indirectmethod to determine the net cash provided by operatingactivities.

The company's net cash provided by operating activities is:

$61,100

$48,800

$58,600

$26,500