Corporation accountants have assembled the following data for the year ended June 30,

2021:

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Prepare the operating activities section of

Epic's

statement of cash flows for the year ended June 30,

2021.

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.)

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Part 1

	Epic Corporation
	Statement of Cash Flows (Indirect Method)
	Year Ended June 30, 2021
	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

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Data table

Net income	$ ?		Cost of goods sold	$119,000
Payment of dividends	5,900		Other operating expenses	31,000
Proceeds from the issuance of common stock	24,000		Purchase of equipment with cash	43,000
Sales revenue	222,000		Increase in current liabilities	7,000
Increase in current assets other than cash	40,000		Payment of note payable	33,000
Purchase of treasury stock	7,000		Proceeds from sale of land	28,000
			Depreciation expense	6,000

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