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Background information: Net Income $ 52,000 Cash received from issuing stock 74,000 Cash received from sale of plant assets 35,000 Increase in income taxes payable

Background information: Net Income $ 52,000 Cash received from issuing stock 74,000 Cash received from sale of plant assets 35,000 Increase in income taxes payable 124,000 Loss on sale of plant assets 22,000

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