The comparative statement of financial position for Pharoah Corporation shows the following noncash current asset and liability accounts at March 31: 2021 2020 Accounts receivable $66,000 $43,500 Inventory 80,000 63,500 34,000 47.000 Accounts payable Dividends payable 1.500 2.300 Pharoah's statement of income reported the following selected information for the year ended March 31, 2021: net income was $270,000, depreciation expense was $61,000, and a loss on the disposal of land was $11000. Pharoah 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 es (15,000)) PHAROAH CORPORATION Statement of Cash Flows (Partial) PHAROAH CORPORATION Statement of Cash Flows (Partial) Operating activities $ Adjustments to reconcile net income to $ Operating activities DI Accounts receivable decrease Prepaid expenses increase Income tax payable increase Net income Income tax payable decrease Depreciation expense Prepaid expenses decrease Accounts receivable increase Loss on disposal of land Accounts payable decrease Accounts payable increase Interest payable increase Interest payable decrease Inventory increase Loss Inventory decrease Profit on disposal of land Adjustments to reconcile net income to Cash at beginning of period Cash at end of period Cash flows from financing activities Cash flows from investing activities Cash flows from operating activities Net cash provided by financing activities Net cash provided by investing activities Net cash provided by operating activities Net cash used by financing activities Net cash used by investing activities Net decrease in cash Net increase in cash