Prepare operating cash flows-indirect method Elan Corporation accountants have assembled the following data for the year ended June 30, 2018 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 Other operating expenses Purchase of equipment with cash Increase in current liabilities Payment of note payable Proceeds from sale of land Depreciation 6,300 20,000 223,000 37,000 8,000 115,000 41,000 36,000 6,000 31,000 34,000 12,000 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong. Requirement Prepare the operating activities section of Elan's statement of cash flows for the year ended June 30, 2018. The company uses the indirect method for operating cash flows. Enter cash inflows as positive values and cash outflows as negative values. Check your spelling carefully and do not abbreviate. a. b. Saving & Submitting Solution 1 Save file to desktop. Create folder on desktop, and label COMPLETED EXCEL PROJECTS Save your solution in the folder you just created; add-solution-date to end of file name a. b. 2 Upload and submit your file to be graded. a. Navigate back to the activity window screen where you downloaded the initial spreadsheet b. c. d. Click Choose button under step 3; locate the file you just saved and click Open Click Upload button under step 3 Click Submit button under step 4