-5 Computing cash flows from operating activities-indirect method Learning Objective 2 inding Road Cellular accountants have assembled the following data for the year ended April 30, 2018: Cash receipt from sale of land Depreciation expense Cash payment of dividends cash receipt from issuance of common stock 17,000 Increase in current assets other than cash $ 55,000 44,000 20,000 $27,000 Net income 2,000 5,800 Cash purchase of equipment Decrease in current liabilities 27 Prepare the operating activities section using the indirect method for Winding Road Cellular's statement of cash flows for the year ended April 30, 2018. Note: Short Exercise S16-3 must be completed before attempting Short Exercise $16-6. $16-6 Computing cash flows from investing and financing activities Learning Objective 2 Use the data in Short Exercise S16-5 to complete this exercise. Prepare Winding Road Cellular's statement of cash flows using the indirect method for the year ended April 30, 2018. Assume beginning and ending Cash are $48,000 and $52,200, respectively