Meter Company reported net income for the year of $30,000. During the year, Accounts Receivable increased by $7,000, Accounts Payable decreased by $3,000, and depreciation expense of $5,000 was recorded. Also, Equipment was purchased for $40,000 cash. Using the indirect method, net cash provided by operating activities for the year is
A) $21,000
B) $35,000
C) $23,000
D) $25,000
