Smith Corporation formats operating cash flows using the indirect method. (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) Smith's net cash provided by operating activities during 2018 was A. $33,000. B. $39,000. C. $38,000. D. $44,500. i Data Table X A Data Table Smith's Comparative Balance Sheets Smith's Income Statement for 2018 December 31, 2018 and 2017 Sales revenue $ 175,000 2018 2017 2018 2017 5,500 * Gain on sale of equipment 180,500 Cash $ 8,000 $ 4,000 Accounts payable $ 9,000 $ 10,000 Cost of goods sold $ 114,000 Accounts receivable 6,500 10,500 Accrued liabilities 7,500 6,000 Depreciation 9,500 Inventory 10,000 9,000 Common stock 16,000 8,000 Other operating expenses 25,500 149,000 91,000 Plant and equipment, net 75,000 Retained earnings 83,000 74,500 $ 31,500 Net income $ 115,500 $ 98,500 $ 115,500 $ 98,500 * The book value of equipment sold during 2018 was $24,000. Print Done Print Done