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A comparative balance sheet for Lomax Company containing data for the last two years is as follows: The following additional information is available about the
A comparative balance sheet for Lomax Company containing data for the last two years is as follows: The following additional information is available about the company's activities during this year: a. Paid a cash dividend of ? b. Retired bonds with a principal balance of $391,000. c. Equipment costing $152,000 with accumulated depreciation of $53,200 was sold for $75,500. d. Sold long-term investments for $132,000. These investments had cost $59,900 when purchased several years ago. e. The subsidiaries did not repay any outstanding loans. f. Lomax did not repurchase any of its own stock. The company reported net income this year as follows: Required: 1. Using the indirect method, prepare a statement of cash flows for this year. Note: Cash outflows and amounts to be deducted should be indicated with a minus sign
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