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Karr Ine. reported net income of $300,000 for 20X. Changes occurred in several balance sheet accounts as follows: Additional Information: a. During 20X, Karr sold

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Karr Ine. reported net income of $300,000 for 20X. Changes occurred in several balance sheet accounts as follows: Additional Information: a. During 20X, Karr sold equipment that cost $25,000 and had accumulated depreciation of $12,000, for a gain of $5,000. b. In December 20XI, Karr purchased equipment costing $50,000 with $20,000 cash and a 12% note payable of $30,000. c. Depreciation expense for the year was $52,000. Required: 1. In Karr's 20XI statement of cash flows, what should be the net cash from operating activities? 2. In Karr's 20X1 statement of cash flows, what should be the net cash used in investing netivities

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