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

		2018		2017
Accounts receivable		$62,000		$46,500
Inventory		78,000		62,000
Accounts payable		29,000		50,000
Dividends payable		1,500		2,000

Cranes income statement reported the following selected information for the year ended March 31, 2018: net income was $280,000, depreciation expense was $61,000, and a loss on the disposal of land was $14,000. Craneuses 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).)

CRANE CORPORATION Statement of Cash Flows (Partial)-Indirect Method Year Ended March 31, 2018Month Ended March 31, 2018March 31, 2018
Operating activities
Profit on disposal of landInterest payable increaseInventory decreaseAccounts receivable increaseInterest payable decreaseLoss on disposal of landPrepaid expenses increaseIncome tax payable increaseLossPrepaid expenses decreaseIncome tax payable decreaseInventory increaseAccounts payable increaseAccounts receivable decreaseDepreciation expenseAccounts payable decreaseNet income		$
Adjustments to reconcile net income to
Cash at beginning of periodCash at end of periodCash flows from financing activitiesCash flows from investing activitiesCash flows from operating activitiesNet cash provided by financing activitiesNet cash provided by investing activitiesNet cash provided (used) by operating activitiesNet cash used by financing activitiesNet cash used by investing activitiesNet decrease in cashNet increase in cash
Income tax payable increaseLossNet incomeDepreciation expenseProfit on disposal of landLoss on disposal of landAccounts payable increaseInterest payable increaseAccounts receivable decreaseInterest payable decreasePrepaid expenses increasePrepaid expenses decreaseAccounts receivable increaseAccounts payable decreaseInventory increaseInventory decreaseIncome tax payable decrease	$
Accounts payable increaseNet incomeIncome tax payable increaseInterest payable increaseAccounts payable decreaseLossProfit on disposal of landAccounts receivable increasePrepaid expenses decreasePrepaid expenses increaseInventory increaseDepreciation expenseLoss on disposal of landInterest payable decreaseAccounts receivable decreaseIncome tax payable decreaseInventory decrease
Interest payable increasePrepaid expenses decreaseIncome tax payable decreaseLoss on disposal of landIncome tax payable increaseLossDepreciation expenseProfit on disposal of landNet incomeAccounts payable decreaseAccounts receivable increaseAccounts receivable decreaseInventory increaseInterest payable decreaseAccounts payable increasePrepaid expenses increaseInventory decrease
Depreciation expenseAccounts receivable increaseLossPrepaid expenses increaseInventory decreaseAccounts receivable decreaseIncome tax payable increaseInterest payable increaseAccounts payable decreaseIncome tax payable decreaseProfit on disposal of landInterest payable decreasePrepaid expenses decreaseLoss on disposal of landNet incomeAccounts payable increaseInventory increase
Income tax payable increaseLoss on disposal of landDepreciation expenseNet incomeAccounts receivable increaseAccounts payable decreaseProfit on disposal of landIncome tax payable decreaseLossInventory increaseInterest payable decreasePrepaid expenses decreaseAccounts payable increaseInventory decreaseAccounts receivable decreaseInterest payable increasePrepaid expenses increase
Cash at beginning of periodCash at end of periodCash flows from financing activitiesCash flows from investing activitiesCash flows from operating activitiesNet cash provided by financing activitiesNet cash provided by investing activitiesNet cash provided by operating activitiesNet cash used by financing activitiesNet cash used by investing activitiesNet cash used by operating activitiesNet decrease in cashNet increase in cash		$

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