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Corporation accountants have assembled the following data for the year ended June 30, 2018 : Prepare Edmund Corporation's statement of cash flows for the year
Corporation accountants have assembled the following data for the year ended June 30, 2018 :
Prepare Edmund Corporation's statement of cash flows for the year ended June 30, 2018. The company uses the indirect method for operating activities.
Begin by completing the cash flows from operating activities. Then complete the remaining sections of the cash flow statement. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.)
Net income. .. . _ . . .. _ _ . . . . _ . . . . $ 118,000 31,000 Proceeds from the issuance Purchase of equipment 35,000 12,000 33,000 31,000 7,000 of common stock 229.000 Decrease in current liabilities. Increase in current assets other than caslh 39,000 Proceeds from sale of land n expense -. Edmund Corporation Statement of Cash Flows (Indirect Method) Year Ended June 30, 2018 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by (used for) operating activities: Net cash provided by (used for) operating activities Cash flows from investing activities: Net cash provided by (used for) investing activities Cash flows from financing activities: Net cash provided by (used for) financing activities Net increase (decrease) in cash Edmund Corporation Statement of Cash Flows (Indirect Method) Year Ended June 30, 2018 Cash flows from operating activities: Decrease in current assets other than cash Increase in current liabilities Depreciation Increase in current assets other than cash Decrease in current liabilities Net income Payment of dividends Payment of note payable Proceeds from issuance of common stock Proceeds from sale of land Purchase of equipment Purchase of treasury stock Net cash provided by (used for) financing activities Net increase (decrease) in cash
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