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Please show steps to how to solve as well Adoitions bots 3. Pratg divioencs orsi2 400 Aeculied Prepare a statement of cach flows uxisg the
Please show steps to how to solve as well
Adoitions bots 3. Pratg divioencs orsi2 400 Aeculied Prepare a statement of cach flows uxisg the inglirect mewod (Cssh outfows should be indicated whin a minus slga.) The comparative balance sheets and income statements for Gypsy Company follow. 1. During Year 2, the company sold equipment for $21,500 : it had originally cost $36,000. Accumulated depreciation on this equipment was $16,000 at the time of the sale. Also, the company purchased equipment for $29,000 cash 2. The company sold land that had cost $6,000. This land was sold for $5,900, resulting in the recognition of a $100 loss. Also, common stock was issued in exchange for title to land that was valued at $22,000 at the time of exchange. 3. Paid dividends of $12.400. Required Prepare a statement of cash flows using the indirect method. (Cash outflows should be indicated with a minus sign Step by Step Solution
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