Question 3 Your answer is partially correct. Try again. The comparative statement of financial position for Ivanhoe Corporation shows the following noncash current asset and liability accounts at March 31: Accounts receivable Inventory Accounts payable Dividends payable 2018 $61,000 73,000 27,000 1,100 2017 $48,500 63,500 41,000 2,500 Ivanhoe's income statement reported the following selected information for the year ended March 31, 2018: net income was $270,000, depreciation expense was $66, and a loss on the disposal of land was $18,000. Ivanhoe uses a perpetual inventory system. Calculate net cash provided (used) by operating activities using the indirec method. (Show amounts that decrease cash flow with either a sign .g.-15,000 or in parenthesis (15,000)) IVANHOE CORPORATION Statement of Cash Flows (Partial)-Indirect Method Year Ended March 31, 2018 0 Operating activities 270000 270000 Net income Adjustments to reconcile net income to Net cash provided (used) by operating activities: T hennart evnence IVANHOE CORPORATION Statement of Cash Flows (Partial)-Indirect Method Year Ended March 31, 2018 Operating activities 270000 T Net Income Adjustments to relocile net income to Net cash provided (used) by operating activities Depreciation expense 66000 T Loss on disposal of land 18000 Accounts receivable increase 12500 T Inventory Increase 9500 9500 Accounts payable decrease T Net cash provided by operating activities