Ericson Corporation has the following activities for the past​ year:

Ericson Corporation has the following activities for the past​ year:

Net income. . . . . . . . . . . . . . . . . . . . .

$ ?

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

$49,000

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

$6,000

Other operating expenses. . . . . . . .

$14,000

Proceeds from issuance of stock. . .

$73,000

Depreciation expense. . . . . . . . . . . .

$20,000

Purchase of treasury stock. . . . . . . .

$13,000

Purchase of equipment with cash. . .

$26,000

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

$124,000

Proceeds from sale of land. . . . . . . .

$19,000

Payment of long-term note payable.

$13,000

Increase in current assets

Decrease in current liabilities. . . . . .

$9,000

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

$6,000

Prepare the statement of cash flows for Ericson Corporation for the year. Ericson Corporation uses the indirect method for operating activities.

Prepare the statement one section at a time. (Use a minus sign or parentheses for numbers that should be  subtracted.)

	Ericson Corporation
	Statement of Cash Flows (Indirect Method)
	For the Year Ended December 31
	Operating Activities:
	Net income				$41,000
	Adjustments to reconcile net income to cash basis
	Depreciation expense			$20,000
	Increase in current assets other than cash			(6,000)
	Decrease in current liabilities			(9,000)	5,000
	Net cash provided by (used for) operating activities				46,000
	Investing Activities:
	Proceeds from sale of land	19,000
	Purchase of equipment	(26,000)
	Net cash provided by (used for) investing activities		(7,000)

	Financing Activities:
	Payment of dividends	(6,000)
	Payment of note payable	(13,000)
	Proceeds from issuance of common stock	73,000
	Purchase of treasury stock	(13,000)
	Net cash provided by (used for) financing activities		41,000
	Net increase (decrease) in cash		$80,000