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Awad Inc is a manufacturer of automobile spare parts in the West Coast of the...

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Awad Inc is a manufacturer of automobile spare parts in the West Coast of the U.S. during the year 2019, it reported a net cash flow used by operating activities of $20,000. During the same year, the firm recorded a depreciation expense of $10,000 and a Gain on disposal of plant assets of $3,000. Moreover, its balance sheet showed an increase in accounts payable, account receivable and accruals of $2,000, $3,000, and $4,000 respectively. It also showed a decrease in inventories, notes payable, and bonds payable of $5,000, $20,000, and $25,000 respectively. It also paid a dividend of $4,500 during 2019. Based solely on the above information, what was the firm's net income in 2019? Select one: O a. $(15,000) O b. ($35,000) O c. $35,000 O d. Cannot be determined. O e. ($55,000)

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