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Answer (D) is correct . The net change in expected cash receipts and disbursements may be determined by adjusting the net loss. The purchase of equipment on credit does not affect cash or the net loss. Depreciation expense and the accrual of an estimated warranty liability are noncash expenses that are added back to the net loss. The net loss should also be adjusted for the difference between cost of sales (included in the determination of the net loss) and cash paid to suppliers. This adjustment requires two steps: (1) The difference between cost of sales and purchases equals the change in inventory, and (2) purchases must have exceeded cash paid to suppliers because accounts payable increased. Given that inventory is not expected to change, cost of sales exceeds the cash to be paid to suppliers by the amount of the increase in accounts payable. The increase must be added back to the net loss. A decrease in accounts receivable means that cash collections exceeded sales. Accordingly, this decrease is also added back to the net loss. The expected increase in cash position is $54,000 [$(120,000) net loss + $42,000 depreciation + $12,000 warranty liability + $48,000 increase in accounts payable + $72,000 decrease in accounts receivable].

Answer (A) is incorrect because An $18,000 decrease does not consider the $72,000 decrease in accounts receivable.
Answer (B) is incorrect because A $30,000 decrease does not adjust the net loss for the $12,000 provision for estimated warranty liability or the $72,000 decrease in receivables. These should be added to the net loss.
Answer (C) is incorrect because A $36,000 increase results from subtracting the $18,000 purchase of equipment.