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Dixon Corporation reported 20X7 accrual basis net income of $50,000. Additional information is as follows: Depreciation expense $12,000 Loss on Sale of Land 16,000 Sale

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Dixon Corporation reported 20X7 accrual basis net income of $50,000. Additional information is as follows: Depreciation expense $12,000 Loss on Sale of Land 16,000 Sale of Land for Cash 30,000 Increase in Accounts Receivable 8,000 Decrease in Inventory 4,000 Increase in Dividends Payable 10,000 Increase in Accounts Payable 3,000 Increase in Taxes Payable 2,000 Using the information above, how much was cash from operating activities? O $51,000 O $47,000 O $79,000 O $89,000

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