Chisholm Associates uses the indirect method for preparing the statement of cash flows. The following accounts and balances were drawn from the company's accounting records:

Beg. Bal. End. Bal.

Accounts receivable $31,350 $41,650

Prepaid insurance 5,950 2,650

Accounts payable 25,350 27,450

Unearned revenue 7,750 5,450

Net income for the period was $56,500. The net cash flows from operating activities would be:

$54,400.

$62,100.

$49,300.

$53,900.