The comparative statement of financial position for Crane Corporation shows the following noncash current asset and liability accounts at March 31:

Cranes income statement reported the following selected information for the year ended March 31, 2018: net income was $280,000, depreciation expense was $66,000, and a loss on the disposal of land was $15,000. Crane uses a perpetual inventory system. Calculate net cash provided (used) by operating activities using the indirect method.

2018 2017 Accounts receivable Inventory Accounts payable Dividends payable $68,000 $46,500 80,000 63,000 26,000 43,000 1,200 2,100