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3) Hope Corporation's calendar year-end 2015 and 2014 balance sheets showed the 3) following items: 2015 2014 Cash $ 27,000 $ 21,000 Accounts receivable 43,000

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3) Hope Corporation's calendar year-end 2015 and 2014 balance sheets showed the 3) following items: 2015 2014 Cash $ 27,000 $ 21,000 Accounts receivable 43,000 49,000 Merchandise inventory 113,000 97,000 Equipment 96,000 81,000 Accumulated depreciation, equipment 25,000 16,000 Common shares 135,000 135,000 Retained earnings 119,000 97,000 Additional information about the corporation's activities during 2015 follows: (a) The only decreases in accounts receivable were customer receipts (b) Sales (all on credit) $342,000 (c) Cost of goods sold $185,000 (d) All merchandise purchases were for cash (e) Depreciation expense 9,000 (f) Other operating expenses 108,000 302,000 (g) Net income for 2015 $40,000 Prepare a statement of cash flows for calendar 2015 that follows the indirect method of calculating the net cash provided (or used) by operating activities. 4) Friends Co. had the following financial data related to the year ended December 4) 31

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