Current Attempt in Progress - Your answer is partially correct. The comparative statement of financial position for Ivanhoe Corporation shows the following noncashcurrent asset and liability accounts at March 31 : Ivanhoe's statement of income reported the following selected information for the year ended March 31, 2021: net income was $270,000, depreciation expense was $68,000, and a loss on the disposal of land was $11,000. Ivanhoe uses a perpetual inventory system. Calculate net cash provided (used) by operating activities using the indirect method. (Show amounts that decrease cash flow with either a-signes 15,000 or in parenthesis es (15,000)) Question 2 of 4 4.59/6 IVANHOE CORPORATION Statement of Cash Flows (Partial) Year Ended March 31, 2021 Operating activities Net income $ 270,000 Adjustments to reconcile net income to Net cash provided by operatine activies \begin{tabular}{|c|c|c|} \hline Depreciation expense: & $ & 68,000 \\ \hline Loss on disposal of land & & 11000 \\ \hline Accounts receivable decrease * & & 23000 \\ \hline Inventory increase & & 18500 \\ \hline Accountspavable decrease & & 10000 \\ \hline \end{tabular} Question 2 of 4 IVANHOE CORPORATION Statement of Cash Flows (Partial) Year Ended March 31, 2021 Accounts receivable decrease Inventory decrease Income tax payable decrease Loss Accounts payable decrease Accounts payable increase Loss on disposal of land Income tax payable increase Prepaid expenses decrease Interest payable decrease Prepaid expenses increase Net income Inventory increase Profit on disposal of land Interest payable increase Depreciation expense Accounts receivable increase Accounts receivable decreasi _ Inventory increase Accounts payable decrease Cash flows from operating activities \begin{tabular}{r} $68,000 \\ \hline 11,000 \\ \hline23,000 \\ \hline \end{tabular} 18,500 10,000 Adjustments to reconcile net income to Net cath provided by operating activities Depreciation expense Losscadisotalof land Catise beginning of period Cashat end of period Cash flows from fonancing activities Cash flows from investint activities. Cash flows fromerecratins activities Net cash provided by fruancing activities Netcash provided by investing activities Net cash provided by operating activities Net cash used by financing activities Net cash used by imestinet activities Net cash used by operating activities Net decrease in cash Net increase in cash Cash flows from operatine activites $ 68,000 11,000 \begin{tabular}{|r|} \hline23,000 \\ \hline18,500 \\ \hline10,000 \\ \hline \end{tabular}