Use the data in Short Exercise 11-6 to prepare Elan Corporation’s statement of cash flows for the year ended June 30, 2018. The company uses the indirect method for operating cash flows.

Data from Exercise 11-6

Elan Corporation accountants have assembled the following data for the year ended June 30, 2018:

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Cost of goods sold.. . 6,300 Other operating expenses .. Purchase of equipment with cash.. 223,000 Increase in current liabilities. Payment of note payable . Proceeds from sale of land.. Depreciation expense . Net income.. Payment of dividends. . Proceeds from the issuance of common stock. Sales revenue. Increase in current assets other than cash Purchase of treasury stock.. $115,000 41,000 20,000 36,000 6,000 31,000 37,000 8,000 34,000 12,000 ...........