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Garnett Company’s year-end income statement shows the following: Revenues.............. $5,000,000
Selling and general expenses (including depreciation expense of $200,000)............................ 3,800,000
Interest expense ....................................50,000
Gain on sale of equipment....................... 40,000
Income tax expense (including deferred tax expense of $30,000)........................................... 320,000
Net income.......................................... $ 870,000
During the year, Garnett’s noncash current assets rose by $100,000, and current liabilities increased by $150,000. On its statement of cash flows, Garnett would report cash provided by operating activities of