Background information:

Background information:

Decrease in interest payable $1,000

Depresiassion expense $30,900

Gain on the retireent of bonds $32,300

Increase in accounts receivable $40,000

Loss on sale of sale of plant assets $59,000

Net income $78,000

The net cash provided (used) by operating activities is _____.

$23,500

$59,500

$59,700

$41,500

$94,300