Current year Previous year | Balance sheet at December 31 Cash Accounts receivable Inventory Equipment | Accumulated depreciation-equipment $34,000 35,000 41,000 121,000 (30,000) $201,000 $29,000 28,000 38,000 100,000 (25,000) $170,000 Accounts payable | Salaries and wages payable | Note payable (long-term) Common stock Retained earnings $36,000 1,200 38,000 88,600 37,200 $201,000 $27,000 1,400 44,000 72,600 25,000 $170,000 Income statement Sales revenue Cost of goods sold Other expenses Net income $120,000 70,000 37,800 Additional data: a. Accounts Payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash. b. Other expenses included depreciation, $5,000; salaries and wages, $20,000; taxes, S6,000; utilities, $6,800. c. No dividends were declared or paid. d. Issued new shares of stock for $16,000 cash. e. Paid $6,000 on the long-term note payable. f. Bought equipment for cash, $21,000. Q: What is the amount of operating cash flows for the current year? A $17,200 B. -$1,200 c. 34.000 D. 16,000