Using the data given in E13- 25B, prepare the statement of cash flows for Eduardo Corporation for the year. The company uses the indirect method for operating activities.
In E13-25B

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Net income Payment of dividends Proceeds from issuance of stock$76,000 Depreciation expense . Purchase of treasury stock Sales revenue $120,000 Proceeds from sale of land Payment of note payable …… $ 15,000 increase in current assets other than cash Decrease in current liabilities $44,000 $16,000 $18,000 $29,000 $24,000 $ 5,000 ? Cost of goods sold $2,000 Other operating expense $12,000 Purchase of equipment $ 7,000