I am having trouble calculating the net income. Along with answering the question could you provide the formula to calculate net income so I know how to do it going forward. Thanks.

Homework: HW #10 (Statement of Cash Flows) Save Score: 0 of 1 pt 3 of 7 (3 complete) HW Score: 20%, 2 of 10 pt X S11-7 (similar to) Question Help Edward Corporation accountants have assembled the following data for the year ended June 30, 2018: B Click the icon to view the data.) Prepare Edward Corporation's statement of cash flows for the year ended June 30, 2018. 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.) Edward Corporation Statement of Cash Flows (Indirect Method) Year Ended June 30, 2018 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by (used for) operating activities: Depreciation $ 7,000 Increase in current assets other than cash 40,000 4000 Decrease in current liabilities Net cash provided by (used for) operating activities Choose from any list or enter any number in the input fields and then click Check Answer. Homework: HW #10 (Statement of Cash Flows) Save Score: 0 of 1 pt 3 of 7 (3 complete) HW Score: 20%, 2 of 10 pts Question Help X S11-7 (similar to) Edward Corporation accountants have assembled the following data for the year ended June 30, 2018: (Click the icon to view the data.) Prepare Edward Corporation's statement of cash flows for the year ended June 30, 2018. The company uses the indirect method for operating activities. y heses or a minus sign for Begin by completing the cash numbers to be subtracted and i Data Table Cash flows from operating Net income Adjustments to reconcile net cash provided by (us Depreciation Increase in current a 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 .......... $ 112,000 5,800 Other operating expenses ..... 35,000 Purchase of equipment 32,000 with cash 34,000 229,000 Decrease in current liabilities.... 4,000 Payment of note payable ....... 25,000 40,000 Proceeds from sale of land ..... 29,000 3,000 Depreciation expense ......... 7,000 ......... Decrease in current Net cash provided Print Done Choose from any list or enter any number in the input fields and then click Check