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1) The net income for Shepherd Corporation was $80,433 for the year ended December 31, 2016. Related information follows: Depreciation of equipment 10,620 Loss on

1) The net income for Shepherd Corporation was $80,433 for the year ended December 31, 2016. Related information follows:

Depreciation of equipment

10,620

Loss on the sale of land

3,947

Cash dividends paid

13,246

Increase in accounts receivable

15,250

Decrease in salaries payable

11,312

Increase in long-term notes payable

12,054

Sale of preferred stock for cash

5,964

Cash flows from operating activities during 2016 should be reported as:__________

2) If sales revenue is $104,739 and accounts receivable decreased by $11,199, the amount of cash received from customers $_____________

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