Edgardo Corporation accountants have assembled the following data for the year ended June 30, 2018:

prepare the operating activities section of Edgardo's statement of cash flows for the year ended June 30,2018. The company uses the indirect method for operating cash flows.

Net income $ ? Cost of goods sold $ 118,000 Payment of dividends 5,600 Other operating expenses 38,000 Proceeds from the issuance Purchase of equipment of common stock 24,000 with cash 37,000 Sales revenue 225,000 Increase.in current.liabilities. . 18,000 Decrease in current assets Payment of note payable 34,000 other than cash 36,000 Proceeds from sale of land 35,000 Purchase of treasury stock 11,000 Depreciation expense 11,000