Williams Corporation accountants have assembled the following data for the year ended June 30, 2016:
Net income.......................................................................................................... $ ......?
Cost of goods sold............................................................................................. $116,000
Payment of dividends.............................................................................................. 6,100
Other operating expenses........................................................................................34,000
Proceeds from the issuance of common shares...................................................... 18,000
Purchase of equipment with cash........................................................................... 42,000
Sales revenue....................................................................................................... 225,000
Increase in current liabilities................................................................................. 10,000
Increase in current assets other than cash............................................................. 29,000
Payment of note payable...................................................................................... 30,000
Proceeds from sale of land................................................................................... 27,000
Repurchase of common shares.............................................................................. 7,000
Depreciation expense............................................................................................ 5,000
Prepare Williams Corporation's statement of cash flows for the year ended June 30, 2016. Williams uses the indirect method for operating activities.