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Perry Corp had the following financial data related to the years ended December 31: (1) There was no gain or loss on the long-term investments
Perry Corp had the following financial data related to the years ended December 31:
(1) There was no gain or loss on the long-term investments sold or the bonds retired. (2) Old equipment with an original cost of $34,900 was sold for $8,922. (3) New equipment was purchased for $153,900. (4) Dividends of $36,194 were paid during the year. (5) Additional shares were issued during the year. (1) There was no gain or loss on the long-term investments sold or the bonds retired. (2) Old equipment with an original cost of $34,900 was sold for $8,922. (3) New equipment was purchased for $153,900. (4) Dividends of $36,194 were paid during the year. (5) Additional shares were issued during the yearStep by Step Solution
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