Apple Distillery Inc. accountants have assembled the following data for the year ended June 30, 2020:

Prepare the operating activities section of Apple Distillery Inc.’s cash flow statement for the year ended June 30, 2020. Apple Distillery uses the indirect method for operating cash flows.

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Payment of dividends. Cash receipt from issuance of common shares.. $12,000 Net income. $100,000 Purchase of equipment . 80,000 40,000 Decrease in current liabilities.. 10,000 Increase in current Payment of note payable.. 60,000 assets other than cash . 60,000 Cash receipt from sale of land. 120,000 Repurchase of Apple Distillery shares.. 10,000 Amortization expense 40,000 .....