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Condensed financial data of Cheng Inc. follow. Additional information: New equipment costing $79, 400 were purchased for cash during the year. Old equipment having an

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Condensed financial data of Cheng Inc. follow. Additional information: New equipment costing $79, 400 were purchased for cash during the year. Old equipment having an original cost of $55, 300 was sold for 512, 900 cash. Bonds matured and were paid off at face value for cash. A cash dividend of $25, 600 was declared and paid during the year

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