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i need help on part b to find profit Sunland Inc. is a private company reporting under ASPE. The following selected account balances were reported
i need help on part b to find profit
Sunland Inc. is a private company reporting under ASPE. The following selected account balances were reported in Sunland Inc.'s financial statements at year end: Additional information: 1. Purchased $70,500 of equipment for $9,400 cash and a note payable for the remainder. 2. Equipment was also sold during the year. 3. Sold a building that originally cost $47,000. 4. Used cash to purchase land and a building. 5. Mortgage payments and notes payable payments included interest and principal amounts. 6. Common shares were issued for cash. (a) Your answer is correct. Determine the amount of any cash inflows or outflows related to investing activities in 2024. (Hint: Use T accounts to calculate the cash flows.) (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).) Your answer is correct. Determine the amount of any cash inflows or outflows related to investing activities in 2024. (Hint: Use T accounts to calculate the cash flows.) (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).) What was the amount of profit reported by Sunland Inc. in 2024 ? Amount of profit eTextbook and Media Attempts: 0 of 3 used Question Part Score (c) The parts of this question must be completed in order. This part will be available when you complete the part aboveStep by Step Solution
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