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Condensed financial data follow for Carla Vista Ltd. Carla Vista reports under ASPE. Liabilities and Shareholders' Equity Additional information: 1. New equipment costing $81,000 was

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Condensed financial data follow for Carla Vista Ltd. Carla Vista reports under ASPE. Liabilities and Shareholders' Equity Additional information: 1. New equipment costing $81,000 was purchased for $21,100 cash and a $59,900 note payable. 2. Equipment with an original cost of $57,900 was sold at a loss of $9,240. 3. Notes payable matured during the year and were repaid. 4. A long-term investment was acquired for cash. Prepare the operating section of the cash flow statement using the direct method assuming that accounts payable relate only to merchandise creditors and that accrued expenses payable and prepaid expenses relate to operating expenses. (Show amounts that decrease cash flow with either a - sign es. - 15,000 or in parenthesis e.g. (15,000)) Attempts: 0 of 5 used

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