Smart Cellular accountants have assembled the following data for the year ended April 30, 2016:

Prepare the operating activities section using the indirect method for Smart Cellular's statement of cash flows for the year ended April 30, 2016.

26,000 Net income Cash receipt from sale of land Depreciation expense Cash payment of dividends Cash receipt from issuance of common stock 62,000 36,000 18,000 5,000 ncrease in current assets other than cash 26,000 4,000 5,600 Cash purchase of equipment Decrease in current liabilities