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Playdough Products earned net income of $500,000 in 2011. The firm increased its accounts receivable during the year by $220,000. The book value of its
Playdough Products earned net income of $500,000 in 2011. The firm increased its accounts receivable during the year by $220,000. The book value of its assets declined by the year's depreciation charge, which was $140,000, and the market value of its assets increased by $50,000. Based only on this information, how much cash did Playdough Products generate during the year? Please ignore taxes for this problem.
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