The net income for Blue Water Corporation was $140 million for the

year ended December 31, 2006. Related information follows:

Amortization of patent, $1 million.
Cash dividends paid, $14 million.
Decrease in accounts receivable, $9 million
Decrease in salaries payable, $1 million.
Depreciation expense, $20 million.
Increase in long-term notes payable, $13 million.
Sale of preferred stock for cash, $17 million.

Cash flows from operating activities during 2006 should be reported as:
$151 million
169 million
171 million
182 million