Brief Exercise 13-16 The comparative statement of financial position for Blossom Corporation shows the following noncash current asset and liability accounts at March 31: 2018 $60,000 Accounts receivable Inventory Prepaid expenses Accounts payable Income tax payable 55,000 6,000 30,000 10,000 2017 $40,000 70,000 4,000 40,000 5,000 Blossom's income statement reported the following selected information for the year ended March 31, 2018: sales were $800,000, cost of goods sold was $450,000, operating expenses were $220,000 (which included depreciation expense of $20,000), and income tax expense was $15,000. Calculate net cash provided (used) by operating activities using the direct method. BLOSSOM CORPORATION Statement of Cash Flows (Partial) Operating activities Cash payments $