The comparative statement of financial position for Cullumber Corporation shows the following noncash current asset and liability accounts at March 31: 2018 2017 Accounts receivable $70,000 $40,500 Inventory 70,000 63,500 Accounts payable 30,000 49,000 Dividends payable 1,300 2,400 Cullumber's income statement reported the following selected information for the year ended March 31, 2018: net income was $270,000, depreciation expense was $60,000, and a loss on the disposal of land was $15,000. Cullumber 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).) Cullumber's income statement reported the following selected information for the year ended March 31, 2018: net income w- $270,000, depreciation expense was $60,000, and a loss on the disposal of land was $15,000. Cullumber uses a perpetual inve system. Calculate net cash provided (used) by operating activities using the indirect method. (Show amounts that decrease cash with either a - signes. -15,000 or in parenthesis es. (15,000).) CULLUMBER CORPORATION Statement of Cash Flows (Partial)-Indirect Method Month Ended March 31, 2018 Operating activities Net income Adjustments to reconcile net income to Net cash provided (used) by operating activities 270,000 Depreciation expense $ 60000 Loss on disposal of land 15000 Accounts receivable increase 29500 Inventory increase 6500 Accounts payable decrease 19000 10000 Net cash provided by operating activities $ 280000