Noel Corporation determines operating cash flows by the indirect method. E (Click the icon to view the income statement.) Noel's net cash provided by operating activities during 2017 was E (Click the icon to view the balance sheet.) O A. $29,500 B. $2,000 OC. $44,000 O D. $51,000 Noel Corporation Income Statement for Year Ended December 31, 2017 Sales revenue 170,000 Gain on sale of equipment 8,000 $ 178,000 Cost of goods sold. 112,000 Depreciation.. 7,500 Other operating expenses 29,000 148,500 $ 29,500 Net income. Noel Corporation Comparative Balance Sheet as at December 31, 2017 and 2016 Liabilities and Assets 2017 2016 Shareholders' Equity 2017 2016 Cash 5,500 S 3,500 Accounts payable 4,000 S 5,000 Accounts receivable 9,000 16,000 Accrued liabilities 13,000 3,000 Inventory 10,000 9,000 Common shares 30,000 15,000 91,000 76,000 68,500 81,500 Plant and equipment, net Retained earnings. $ 115,500 S 104,500 115,500 $ 104,500