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

_______________________________2018................2017

Accounts receivable.................$60,000........$40,000

Inventory...................................64,000..........70,000

Prepaid expenses.........................6,000............4,000

Accounts payable......................35,000..........40,000

Income tax payable...................10,000............5,000

Baird's income statement reported the following selected information for the year ended March 31, 2018: sales were $850,000, cost of goods sold was $475,000, operating expenses were $230,000 (which included depreciation expense of $20,000), and income tax expense was $15,000. Calculate net cash provided (used) by operating activities using the direct method.