BrooklynBrooklyn

Corporation has the following activities for the past year:

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Requirement

Prepare the operating activities section of

BrooklynBrooklyn

Corporation's statement of cash flows for the year ended December 31, using the indirect method for operating cash flows. (Use parentheses or a minus sign for numbers to be subtracted.)

	Brooklyn Corporation
	Statement of Cash FlowsOperating Activities Section (Indirect Method)
	For the Year Ended December 31
	Operating Activities:
	Net income		$42,000
	Adjustments to reconcile net income to cash basis
	Depreciation expense	$21,000
	Decrease in current liabilities
	Net cash provided by (used for) operating activities

DATA

Net income. . . . . . . . . . . . . . . . . .

$ ?

Cost of goods sold. . . . . . . . . . . .

$50,000

Payment of dividends. . . . . . . . . . .

$2,000

Other operating expenses. . . . . . .

$12,000

Proceeds from issuance of stock. .

$75,000

Depreciation expense. . . . . . . . . .

$21,000

Purchase of treasury stock. . . . . .

$14,000

Purchase of equipment with cash. .

$28,000

Sales revenue. . . . . . . . . . . . . . . .

$125,000

Proceeds from sale of land. . . . . . .

$21,000

Payment of long-term note payable.

$16,000

Increase in current assets

Decrease in current liabilities. . . . .

$6,000

other than cash. . . . . . . . . . . .

$8,000