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a . Investment revenue includes Arduous Company's $ 2 5 million share of the net income of Demur Company, an equity method investee. b .
a Investment revenue includes Arduous Company's $ million share of the net income of Demur Company, an equity method investee.
b Treasury bills were sold during at a gain of $ million. Arduous Company classifies its investments in Treasury bills as cash equivalents.
c Equipment originally costing $ million that was onehalf depreciated was rendered unusable by a flood. Most major components of the equipment were unharmed and were sold for $ million.
d Temporary differences between pretax accounting income and taxable income caused the deferred tax liability to increase by $ million.
e The preferred stock of Tory Corporation was purchased for $ million as a longterm investment.
f Land costing $ million was acquired by issuing $ million cash and a fouryear, $ million note payable to the seller.
g The right to use a building was acquired with a year lease agreement; present value of lease payments, $ million. Annual lease payments of $ million are paid at the beginning of each year starting January
h $ million of bonds were retired at maturity.
i In February, Arduous issued a stock dividend million shares The market price of the $ par value common stock was $ per share at that time.
j In April, million shares of common stock were repurchased as treasury stock at a cost of $ million.
Required:
Prepare the statement of cash flows for Arduous Company using the indirect method.
Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions ie should be entered as
Answer is not complete.
ARDUOUS COMPANY
ARDUOUS COMPANY
Comparative Balance Sheets
December and
$ in millions
tableAssetsCash$ $
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