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Daisy Corporation's statement of cash flows for Year 2 shows the following investing activities: Proceeds from marketable securities $ 200,000 Purchase of land (175,000) Proceeds
Daisy Corporation's statement of cash flows for Year 2 shows the following investing activities: Proceeds from marketable securities $ 200,000 Purchase of land (175,000) Proceeds from sale of land 185,000 Net cash provided by investing activity $ 210,000 Daisy's income statement for year 2 includes the following: $ Loss on sale of marketable securities Gain on disposal of land 25,000 40,000 1. The cost of the land sold during Year 2 was: 2. The cost (book value) of the marketable securities sold during Year 2 was: 3. Daisy's balance sheet at the end of Year 1 showed Land of $155,000. On the basis of the data presented above, compute the amount to be reported for Land in Daisy Corporation's balance sheet at December 31, Year 4. Daisy's balance sheet at the end of Year 1 showed Investment in Marketable Securities at $300,000. On the basis of the data presented above, compute the amount to be reported for Investment in Marketable Securities in Daisy Corporation's balance sheet at December 31, Year 2. 5. What is the difference between the direct method and the indirect method of computing operating cash flow. Show your answer in the space below or upload an Excel file with your responses. Show all work
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