ACC 231 - Spring 2021 - Uses of Accounting Info 1 - Canvas Pedro Rivera 04/12/21 9:25 PM Homework: Chapter 11 - Homework Save Score: 0 of 5 pts 3 of 4 (0 complete) HW Score: 0%, 0 of 20 pts 311-6 (book/static) Question Help Elan Corporation accountants have assembled the following data for the year ended June 30, 2018: (Click the icon to view the data.) Prepare the operating activities section of Elan's statement of cash flows for the year ended June 30, 2018. The company uses the indirect method for operating cash flows. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) x Data Table Elan Corporation Statement of Cash Flows (Indirect Method) Year Ended June 30, 2018 Cash flows from operating activities: Net income. $ 115,000 41,000 Payment of dividends. Adjustments to reconcile net income to net cash provided by (used for) operating activities: Proceeds from the issuance of common stock $ ? Cost of goods sold 6,300 Other operating expenses. Purchase of equipment 20,000 with cash... 223,000 Increase.in .current.liabilities. Payment of note payable 37,000 Proceeds from sale of land. 36,000 Sales revenue. 6,000 Increase in current assets 31,000 other than cash Net cash provided by (used for) operating activities 34,000 12,000 Purchase of treasury stock 8,000 Depreciation expense.. Print Done