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Oriole's income statement reported the following selected information for the year ended March 31, 2018: net income was $270,000, depreciation expense was $68,000, and a
Oriole's income statement reported the following selected information for the year ended March 31, 2018: net income was $270,000, depreciation expense was $68,000, and a loss on the disposal of land was $10,000. Oriole 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 - sign e.g. -15,000 or in parenthesis e.g. (15,000).) The comparative statement of financial position for Oriole Corporation shows the following noncash current asset and liability accounts at March 31: Statement of Cash Flows (Partial)-Indirect Method Month Ended March 31, 2018 )perating activities Net income $ djustments to reconcile net income to Net cash provided (used) by operating Depreciation expense $ Loss on disposal of land Accounts receivable increase Inventory increase Accounts receivable decrease Net cash provided by operating activit $
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