Prepare the operating activities section of Corporation's statement of cash flows for the year ended December 31, using the indirect method for operating cash flows. (Use parentheses or a minus sign for numbers to be subtracted.)

Ernest Corporation has the following activities for the past year: E: (Click the icon to view the data.) Requirement Prepare the operating activities section of Ernest Corporation's statement of cash flows for the year ended December 31, using the indirect method for operating cash flows. (Use parentheses or a minus sign for numbers to be subtracted.) Ernest Corporation Statement of Cash Flows-Operating Activities Section (Indirect Method) For the Year Ended December 31 Operating Activities: Net income Adjustments to reconcile net income to cash basis Depreciation expense Decrease in current liabilities Increase in current assets other than cash Net cash provided by (used for) operating activities - Data Table $ 50,000 $ 14,000 Net income. $? Cost of goods sold Payment of dividends $ 6,000 Other operating expenses Proceeds from issuance of stock $ 79,000 Depreciation expense... Purchase of treasury stock .... $ 10,000 Purchase of equipment with cash Sales revenue.. $ 117,000 Proceeds from sale of land....... Payment of long-term note payable . $ 12,000 Increase in current assets Decrease in current liabilities $ 6,000 other than cash $ 16,000 $ 26,000 . - $ 25,000 $ 5,000