Coyote Inc's accountants have assembled the following data for the year ended May 31, 2024:

prepare coyote's statement of cash flows using the indirect method for the year ended may 31, 2024. assume beginning and ending cash are $20,000 and $104,300 respectively.

complete the statement on section at a time, begining with the cash flows from operating activities

\begin{tabular}{lr} \hline Cash receipt from sale of equipment & $16,000 \\ Depreciation expense & 17,000 \\ Cash payment of dividends & 5,700 \\ Cash receipt from issuance of common stock & 14,000 \\ Net income & 38,000 \\ Cash purchase of land & 20,000 \\ Increase in current liabilities & 13,000 \\ Decrease in current assets other than cash & 12,000 \\ \hline \end{tabular}