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Edmund Corporation accountants have assembled the following data for the year ended June 30, 2018: (Click the icon to view the data.) Prepare the operating
Edmund Corporation accountants have assembled the following data for the year ended June 30, 2018: (Click the icon to view the data.) Prepare the operating activities section of Edmund's statement of cash flows for the year ended June 30, 2018. 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.) 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 Net income.... Payment of dividends Proceeds from the issuance of common stock Sales revenue Decrease in current assets $ ? Cost of goods sold ........... $ 118,000 5,900 Other operating expenses ...... .. 31,000 Purchase of equipment 15,000 with cash.. 39,000 222,000 Increase in current liabilities........ 10,000 Payment of note payable .......... 32,000 30,000 Proceeds from sale of land........... 28,000 3,000 Depreciation expense.......................... 8,000 other than cash ................... Purchase of treasury stock
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