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Edward Corporation accountants have assembled the following data for the year ended June 30, 2016: (Click the icon to view the data.) Prepare the operating
Edward Corporation accountants have assembled the following data for the year ended June 30, 2016: (Click the icon to view the data.) Prepare the operating activities section of Edward's statement of cash flows for the year ended June 30, 2016. Edward Corporation 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.) Edward Corporation Statement of Cash Flows (Indirect Method) Year Ended June 30, 2016 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 Data Table Net income.. $ ? Cost of goods sold 5,800 Other operating expenses Purchase of equipment $ 111,000 35,000 Payment of dividends Proceeds from the issuance of common stock 20,000 with cash. 45,000 Sales revenue 223,000 Decrease in current liabilities. . 6,000 Increase in current assets Payment of note payable. 32,000 26,000 other than cash 40,000 Proceeds from sale of land. Purchase of treasury stock 5,000 Depreciation expense. 8,000 Print Done
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