Elan Corporatio acountants have asmbled the flwling data for the year ended June 30, 2020: Net Income $7????? Cost of goods sold $115,000 41,000 36,000 Payment of dividends 6,300 Other operating expenses Proceeds from the issuance of common stock 20,000 C Purchase of equipment with cash Sales revenue 223,000 Increase in current liabilities 6,000 Increase in current assets other than cash 37 ,000 C Payments of note payable 31,000 Purchase of treasury stock 8,000 Proceeds from sale of land 34,000 Depreciation expense 12,000 Ending Cash, 12/31/2020 10,000 Beginning Cash, 1/1/2020 1,700

prepare cash flow and how to calculate net income?