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Accountants for Isaac Ison Industries, Inc. (4-1) have assembled the following data for the year ended December 31, 2019: 2019 2018 Current Assets: Cash Accounts

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Accountants for Isaac Ison Industries, Inc. (4-1) have assembled the following data for the year ended December 31, 2019: 2019 2018 Current Assets: Cash Accounts Receivable Merchandise Inventory Current Liabilities: Accounts Payable Income Tax Payable $55,000 $42,000 61,000 65,000 120,000 135,000 $54,000 $46,000 16,000 30,000 $75,000 Transaction Data for 2019: Acquisition of land by issuing long-term notes payable Book value of building sold Depreciation expense Issuance of common stock for cash Issuance of notes payable to borrow cash Loss on sale of building Net income Payment of notes payable Purchase of equipment with cash 38,000 24,000 45,000 32,000 4,500 50,000 27,000 142,000 Purchase of equipment with cash 142,000 Additionally, Retained Earnings had a beginning balance of $44,000 and an ending balance of $74,000 for 2019. [20 points) Prepare 4-I's statement of cash flows for 2019 using the indirect method. TT TT Paragraph 3 (12pt) E. T T' T. V Arial V

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