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	$ 60,000	$ 80,000
Prepaid insurance	9,200	2,000
Accounts payable	48,000	51,600
Unearned revenue	12,800	7,600

Net income for the period was $80,000. The net cash flows from operating activities would be:

$70,400.

$94,400.

$65,600.

$76,000.