Calculating Net Capital Spending Gordon Driving Schools 2006 balance sheet showed net fixed assets of $4.2 million,
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Calculating Net Capital Spending Gordon Driving School’s 2006 balance sheet showed net fixed assets of $4.2 million, and the 2007 balance sheet showed net fixed assets of $4.7 million. The company’s 2007 income statement showed a depreciation expense of $925,000.
What was Gordon’s net capital spending for 2007? LO.1
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