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Additional information: During fiscal Year 8, Hoskins Corporation acquired new equipment for $3,600 in cash. In addition, the company disposed of used equipment that had
Additional information:
During fiscal Year 8, Hoskins Corporation acquired new equipment for $3,600 in cash. In addition, the company disposed of used equipment that had original cost of $3,900 and accumulated depreciation of $2,100, receiving $1,800 in cash from the buyer.
- During fiscal Year 8, Hoskins Corporation arranged short-term bank financing and borrowed $4,500, using a portion of the cash to repay all of its outstanding long-term debt.
- During fiscal Year 8, Hoskins Corporation engaged in no transactions involving its common stock, although it did declare and pay in cash a common stock dividend of $750.
REQUIRED
Using the spreadsheet approach from the chapter appendix, prepare a statement of cash flows (all three sections) for Hoskins Corporation's fiscal Year 8, using the indirect method for the cash from operations section.
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