Problem - The net income for the year ended December 31, 2011, for Tax Consultants INC. was $720,000. Additional information is as follows:
Capital expenditures $1,200,000
Depreciation on plant assets 450,000
Cash dividends paid on common stock 180,000
Increase in noncurrent deferred tax liability 45,000
Amortization of patents 21,000
Based on the information given above, what should be the net cash provided by operating activities in the statement of cash flows for the year ended December 31, 2011?
a. $1,056,000.
b. $1,146,000.
c. $1,191,000.
d. $1,236,000.