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At the end of 2005, Lehnhoff Inc. had $175 million in cash on its balance sheet. During 2006, the following events occurred: O The company

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At the end of 2005, Lehnhoff Inc. had $175 million in cash on its balance sheet. During 2006, the following events occurred: O The company had a total net profit of $150 million. 0 Depreciation for the year totaled $35 million. 0 Account receivables increased by $10 million. 0 Account payables increased by $15 million. O Lehnhoff issued $500 million in common stock. Lehnhoff's retired $100 million of its long term debt. Lehnhoff purchased fixed assets totaling $600 million, and sold an asset with book value of $80 million for $62 million. a. a. For each event, determine if there was a source or use of cash for the firm. Identify the cash flow category (operating, investing, or financing) for each activity. How much cash did Lehnhoff Inc. have on its balance sheet at the end of 2006? Show your work

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