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For the recently completed fiscal year, Royal Tees Inc. produced net income of $25,500, had a depreciation expense of $12,000, total cost of goods sold
For the recently completed fiscal year, Royal Tees Inc. produced net income of $25,500, had a depreciation expense of $12,000, total cost of goods sold were $26,750, and taxes paid of $2,500. Given this information, the cash flow generated was:
$13,500
$35,500
$37,500
$8,750
none of the above
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