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JJJ Corporation reported net income of $73,000 for the year XXX0. In the Income Statement were included Depreciation Expense of $7,000 and a gain of
JJJ Corporation reported net income of $73,000 for the year XXX0. | ||||||
In the Income Statement were included Depreciation Expense of $7,000 and | ||||||
a gain of disposal of Plant Assets of $2,500. | ||||||
The comparative Balance Sheet show the following balances. | ||||||
Account | Year XXX0 | Year XXX1 | ||||
Accounts Receivable | $ 17,000 | $ 21,000 | ||||
Accounts Payable | $ 6,000 | $ 2,200 | ||||
Actions to take: | ||||||
1. Add or decrease the noncash charges. | ||||||
2. Compute the cash provided by operating activitie |
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