Prepare Eldred Corporation's statement of cash flows for the year ended June 30,2014.

EldredEldred

uses the indirect method for operating activities.

Net income

. . . . . . . . . . . . . . . . . .

$ ?

Cost of goods sold. . . . . . . . . . .

$112,000

Payment of dividends. . . . . . . . . .

5,700

Other operating expenses. . . . . .

32,000

Proceeds from the issuance

Purchase of equipment

of common stock. . . . . . . . . . .

25,000

with cash. . . . . . . . . . . . . . . . .

36,000

Sales revenue. . . . . . . . . . . . . . . .

200,000

Decrease in current liabilities. . . . . . .

10,000

Increase in current assets

Payment of note payable. . . . . .

30,000

other than cash. . . . . . . . . . . .

29,000

Proceeds from sale of land. . . . .

27,000

Purchase of treasury stock. . . . . .

6,000

Depreciation expense. . . . . . . . .

11,000