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Ericson Corporation accountants have assembled the following data for the year ended June 30, 2018: (Click the icon to view the data.) Prepare the operating
Ericson 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 Ericson'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.) Ericson 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 Data Table - X Net income ......... ...... $ 116,000 36,000 Payment of dividends .................... ...... $ ? Cost of goods sold ......... 5,500 Other operating expenses ... Purchase of equipment 30,000 with cash ... Proceeds from the issuance of common stock Sales revenue .......................... 222,000 Decrease in.current liabilities . . . . . lease III.CUIELIL lavILILIES..................... Increase in current assets Payment of note payable . ........ 37,000 4,000 30,000 32,000 8,000 other than cash 40,000 Proceeds from sale of land .... TU,U TULCCU IUI SOC ULICI . . . . . . . . . . . . . . . . . . . . . Purchase of treasury stock ................ 3,000 Depreciation expense
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