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

Wildhorses income statement reported the following selected information for the year ended March 31, 2018: net income was $270,000, depreciation expense was $64,000, and a loss on the disposal of land was $15,000. Wildhorse 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).)

Question 56 The comparative statement of financial position for Wildhorse Corporation shows the following noncash current asset and liability accounts at March 31: 2018 2017 Accounts receivable $65,000 $46,500 Inventory 78,000 64,500 Accounts payable 33,500 41,000 Dividends payable 1,000 2,000 Wildhorse's Income statement reported the following selected Information for the year ended March 31, 2018: net income was $270,000. depreciation expense was $64,000, and a loss on the disposal of land was $15,000. Wildhorse uses a perpetual inventory system. Calculate net cash provided (used) by operating activities ang the Indirect method. (Show amounts that decrease cash flow with either a sign .g. -15,000 or in parenthesis e.g. (15,000). WILDHORSE CORPORATION Statement of Cash Flows (Partial).Indirect Method Operating activities Adjustments to reconcile net income to PRINTER VERSION BACK NEXT Wildhorse's income statement reported the following selected information for the year ended March 31, 2018: net income was $270,000, depreciation expense was $64,000, and a loss on the disposal of land was $15,000. Wildhorse uses a perpetual inventory system. Calculate net cash provided (used by operating activities wing the Indirect method. (Show amounts that decrease cash flow with either a sign .g.-15,000 or in parenthesis eg. (15,000)) WILDHORSE CORPORATION Statement of Cash Flows (Partial)-Indirect Method Operating activities Adjustments to reconcile net income to