Response to the following problem:
Tiger Golf Inc. reported a net cash flow from operating activities of $105,700 on its statement of cash flows for the year ended December 31, 2006. The following information was reported in the cash flows from operating activities section of the statement of cash flows, using the indirect method:
Decrease in income taxes payable $ 2,100
Decrease in inventories 6,400
Depreciation 11,000
Gain on sale of investments 3,600
Increase in accounts payable 4,700
Increase in prepaid expenses 2,000
Increase in accounts receivable 6,500
Determine the net income reported by Tiger Golf Inc. for the year ended December 31, 2006.