Hocking Corporation's comparative balance sheet appears below:

Hocking Corporation Comparative Balance Sheet
	Ending Balance	Beginning Balance
Assets:
Current assets:
Cash and cash equivalents	$45,000	$32,300
Accounts receivable	25,000	34,000
Inventory	86,000	77,000
Prepaid expenses	14,800	11,400
Total current assets	170,800	154,700
Property, plant, and equipment	542,000	522,000
Less accumulated depreciation	271,000	234,900
Net property, plant, and equipment	271,000	287,100
Total assets	$441,800	$441,800
Liabilities and stockholders' equity
Current liabilities:
Accounts payable	$35,400	$23,000
Accrued liabilities	66,000	88,000
Income taxes payable	102,000	104,000
Total current liabilities	203,400	215,000
Bonds payable	118,000	101,000
Total liabilities	321,400	316,000
Stockholders' equity:
Common stock	56,000	40,000
Retained earnings	64,400	85,800
Total stockholders' equity	120,400	125,800
Total liabilities and stockholders' equity	$441,800	$441,800

The company's net income (loss) for the year was $(10,700) and its cash dividends were $10,700. It did not sell or retire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating activities.

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

$31,800

$14,700

$40,800

$10,400