Millar Ltd’s net profit after tax was $100,000. The depreciation expense was $25,000. During the year, selected accounts changed as follows: Accounts payable increased by $4,000; accounts receivable decreased by $5,000; inventories decreased by $15,000; prepaid expenses increased by $500; and revaluation surplus increased by $21,000. How much cash was provided by operating activities (i.e. net cash inflow)?
a. $130,500
b. $148,500
c. $125,000
d. $141,500
e. $98,500
