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Epic Corporation accountants have assembled the following data for the year ended June 30, 2021: (Click the icon to view the data.) Prepare Epic
Epic Corporation accountants have assembled the following data for the year ended June 30, 2021: (Click the icon to view the data.) Prepare Epic Corporation's statement of cash flows for the year ended June 30, 2021. The company uses the indirect method for operating activities. Begin by completing the cash flows from operating activities. Then complete the remaining sections of the cash flow statement. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Epic Corporation Statement of Cash Flows (Indirect Method) Year Ended June 30, 2021 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 Payment of dividends Proceeds from the issuance of common stock Sales revenue Increase in current assets other than cash Purchase of treasury stock $? Cost of goods sold 5,600 Other operating expenses 22.000 Purchase of equipment with cash 228,000 Increase in current liabilities 40,000 Payment of note payable 13,000 Proceeds from sale of land Depreciation expense $ 119,000 32,000 44,000 18,000 29,000 28,000 5,000
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