7. Axtel Company has the following financial statements. In addition, Axtel retired stock for $1,000,000 and paid

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7. Axtel Company has the following financial statements.

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In addition, Axtel retired stock for $1,000,000 and paid a dividend of $1,727,000.
Depreciation for the year was $1,166,000. Construct a statement of cash flows for Axtel for 20X1. (Hint: Retiring stock means buying it back from shareholders.
Assume the purchase was made at book value, and treat it like a negative sale of stock.)

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