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15. Mississauga Mining Co. made a net income of $25 million in 2010, after the deduction of amortization expense of $8 million, interest of $5

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15. Mississauga Mining Co. made a net income of $25 million in 2010, after the deduction of amortization expense of $8 million, interest of $5 million and taxes of $10 million. During 2007, it sold mining equipment for $2 million and bought a new computer system for $3 million. During 2007, it issued new shares for $15 million and used the proceeds to repay loans of $10 million; the remainder went into the bank's current account. The cash received from the sale of the shares would be shown in a) The statement of retained earnings b) The statement of cash ows c) The balance sheet (1) (a) & (b), but not (c)

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