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Obj. 2 - Prepare the Cash flows from (used for) operating activities section of the statement of cash flows using the indirect method., 3 -

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Obj. 2 - Prepare the "Cash flows from (used for) operating activities" section of the statement of cash flows using the indirect method., 3 - Prepare the "Cash flows from (used for) investing activities" section of the statement of cash flows., 4 - Prepare the "Cash flows from (used for) financing activities" section of the statement of cash flows., 5 - Prepare a statement of cash flows. The comparative balance sheet of Harris Industries Inc. at December 31, 20Y4 and 20Y3, is as follows: An examination of the income statement and the accounting records revealed the following additional information applicable to 20Y : a. Net income, $524,580. b. Depreciation expense reported on the income statement: buildings, $51,660; machinery and equipment, $22,680. c. Patent amortization reported on the income statement, $5,040. d. A building was constructed for $579,600. e. A mortgage note for $224,000 was issued for cash. f. 30,000 shares of common stock were issued at $13 in exchange for the bonds payable. g. Cash dividends declared, $131,040. Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities

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