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Here are comparative balance sheets for Velo Company. Additional information: 1. Net income for 2020 was $93,000. 2. Cash dividends of $35,000 were declared and
Here are comparative balance sheets for Velo Company. Additional information: 1. Net income for 2020 was $93,000. 2. Cash dividends of $35,000 were declared and paid. 1. Net income for 2020 was $93,000. 2. Cash dividends of $35,000 were declared and paid. 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000. 4. Common stock was issued for $42,000 cash. 5. No equipment was sold during 2020 , but land was sold at cost. Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a-sign es. 15,000, or in parenthesise.g. (15,000)
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