Apple Distillery Inc. accountants have assembled the following data for the year ended June 30, 2020:

Use the data in S17-6 (and your answer if you completed that question) to prepare Apple Distillery Inc.’s cash flow statement for the year ended June 30, 2020. The business uses the indirect method for operating activities. Complete only the first three sections and omit the reconciliation of cash.

S17-6

Apple Distillery Inc. accountants have assembled the following data for the year ended June 30, 2020:

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Payment of dividends.. $12,000 Net income.. $100,000 Purchase of equipment . 40,000 Decrease in current liabilities.. Payment of note payable. . 80,000 Cash receipt from issuance of common shares.. 10,000 Increase in current 60,000 assets other than cash . 60,000 Cash receipt from sale of land... 120,000 Repurchase of Apple Distillery shares. 10,000 Amortization expense 40,000