Statement of cash flows 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 6,300 Proceeds from the issuance of common stock 20,000 Sales revenue 223,000 Increase in current assets other than cash 37,000 Purchase of treasury stock 8,000 Cost of goods sold 115,000 Other operating expenses 41,000 Purchase of equipment with cash 36,000 Increase in current liabilities 6,000 Payment of note payable 31,000 Proceeds from sale of land 34,000 Depreciation expense 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. 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. (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.) Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operating activities Net cash provided by operating activities Elan Corporation Statement of Year ended June 30, 2018 June 30, 2018