Use the data in SE12-7 to prepare Williams Corporation's statement of cash flows for the year ended June 30, 2016. Williams uses the indirect method for operating activities.
In SE12-7

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s Net income Payment of dividends. Proceeds from the issuance Cost of goods sold... $116,000 6,100 Other operating expenses..34,000 Purchase of equipment of common stock...18,000 with cash42,000 42,000 Sales revenue...225,000 Increase in current liabilities... 10,000 30,000 other than cash.29,000 Proceeds from sale of land..27,000 5,000 Increase in current assets Purchase of treasury stock. 7,000 Depreciation expense..