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Additional information from the accounting records: a. During 2024,$233 million of equipment was purchased to replace $200 million of equipment (95% depreciated) sold at book
Additional information from the accounting records: a. During 2024,$233 million of equipment was purchased to replace $200 million of equipment (95\% depreciated) sold at book value. b. In order to maintain the usual policy of paying cash dividends of $53 million, it was necessary for Red to borrow $53 million from its bank. Required: Prepare the statement of cash flows of Red, Incorporated, for the year ended December 31, 2024, using the direct method to report operating activities. Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Cash outflows should be indicated with a minus sign
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