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The net cash provided by operating activities in Moon company's statement of cash flows for 2004 was $154,000. For 2004, depreciation on plant assets was $60,000, amortization of patents was $10,000, and cash dividends paid on common stock was $72,000. Based only on the information given above, Moon's net income for 2004 was:

a. $154,000

b. $84,000

c. $12,000

d. $156,000

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