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Please complete in the fields provided. Also include any calculations used. Note: this is one full question, please complete for upvote. Thanks in advance. Condensed
Please complete in the fields provided. Also include any calculations used. Note: this is one full question, please complete for upvote. Thanks in advance.
Condensed financial data follow for Blossom Ltd. Blossom reports under ASPE. Additional information: 1. New equipment costing $79,000 was purchased for $21,000 cash and a $58,000 note payable. 2. Equipment with an original cost of $56,500 was sold at a loss of $7,000. 3. Notes payable matured during the year and were repaid. 4. A long-term investment was acquired for cash. Prepare a cash flow statement for the year using the indirect method. (Show amounts that decrease cash flow with either a - sign e.gStep by Step Solution
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