Carbone Resources Inc. accountants have assembled the following data for the year ended June 30, 2017:
Payment of dividends ....................... ......... .................... $12,000
Cash receipt from issuance of common shares ........................ 40,000
Increase in current assets other than cash ................................ 60,000
Repurchase of Carbone shares ................................................ 10,000
Net income ............................................................................. $100,000
Purchase of equipment .......................................................... 80,000
Decrease in current liabilities ................................................. 10,000
Payment of note payable ....................................................... 60,000
Cash receipt from sale of land ................................................ 120,000
Amortization expense ............................................................. 40,000
Prepare the operating activities section of Carbone Resources Inc.'s cash flow statement for the year ended June 30, 2017. Carbone uses the indirect method for operating cash flows.