The comparative statement of financial position for Dupigne Corporation shows the following noncash current asset and liability accounts at March 31:
__________________________2018 2017
Accounts receivable.................$60,000.......$40,000
Inventory...................................75,000.........70,000
Accounts payable......................35,000.........40,000
Dividends payable.....................10,000...........2,000
Dupigne's income statement reported the following selected information for the year ended March 31, 2018: net income was $275,000, depreciation expense was $60,000, and a loss on the disposal of land was $15,000. Dupigne uses a perpetual inventory system. Calculate net cash provided (used) by operating activities using the indirect method.
Calculate cash received from disposal of equipment.