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Additional information from the accounting records: Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2024. During 2024,
Additional information from the accounting records:
- Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2024.
- During 2024, equipment with a cost of $420,000 (90% depreciated) was sold.
- The statement of shareholders equity reveals reductions of $195,000 and $400,000 for stock dividends and cash dividends, respectively.
Required:
Prepare the statement of cash flows for Metagrobolize Industries using the indirect method.
Note: Enter your answers in thousands (i.e., 10,000 should be entered as 10).) Amounts to be deducted should be indicated with a minus sign.
Comparative balance sheets for 2024 and 2023 and a statement of income for 2024 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is providedStep by Step Solution
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