The accounting records of North Central Distributors, Inc., reveal the following:

Required
Compute cash flows from operating activities by the indirect method. Use the format of the operating activities section of Exhibit 12-6 (p. 628). Also evaluate the operating cash flow of North Central Distributors. Give the reason for your evaluation.
Use the data in Short Exercise S12-5 to prepare Edwards Corporations' statement of cash flows for the year ended June 30, 20X8. Edwards uses the indirect method for operating activities. Use Exhibit 12-7, page 630, as a guide, but you may stop after determining the net increase (or decrease) in cash.

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Net in Collection of dividend $35,000 Depreciatio $18,000 Decrease in current revenue. 7,000 iabilities .20,000 Payment of interest....16,000 Sales revenue... Loss on sale of land Acquisition of land Increase in current assets 9,000 .. 5,000 37,000 Payment of dividends Payment of income tax 7,000 13,000