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please help The comparative unclassified statement of financial position for Ivanhoe Ltd. follows: Additional information pertaining to 2021: 1. Net income was $115,900. 2. Sales
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The comparative unclassified statement of financial position for Ivanhoe Ltd. follows: Additional information pertaining to 2021: 1. Net income was $115,900. 2. Sales were $996,000. 3. Cost of goods sold was $756,000. 4. Operating expenses were $49,000, exclusive of depreciation expense. 5. Depreciation expense was $41,000. 6. Interest expense was $13,000. 7. Income tax expense was $27,000. 8. Long-term investments were sold at a gain of $5,900. 9. No equipment was sold during the year. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.s. 45,000, or in parenthesis e.g. (45,000). Adjustments to reconcile net income to $ uestion 2 of 3 0.1 $ 7 Step by Step Solution
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