Rocky Boot Co. reported net income of $216,000 for its year ended December 31, 2012. Purchases totaled $152,000. Accountants payable balances at the beginning and end of the year were $36,000 and $33,000, respectively Beginning and ending inventory balances were $44,000 and $46,000, respectively. Assuming that all relevant information has been presented, Rocky Boot would report operating cash flows of

a. $155,000
b. $221,000
c. $211,000
d. $151,000

Ans: c. $211,000