Net income was $40,000; accounts receivable decreased by $10,000; inventory increased by $3,000; proceeds from the issuance of long-term debt were $22,500; equipment purchases were $75,000; depreciation expense was $16,000. The net cash provided (used) by operating activities for the period was:
$10,500.
$47,000.
$49,000.
$63,000.