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Plz provide me accurate answers as usually i get the wrong answers whenever i post the questions. Instant Brake Inc's comparative balance sheet information at
Plz provide me accurate answers as usually i get the wrong answers whenever i post the questions. Instant Brake Inc's comparative balance sheet information at December 31, 2020 and 2019, and its income statement for the year ended December 31,2020 , are as follows: During 2020, the following transactions occurred: 1. Purchased equipment for $20,400 cash. 2. Sold the investment on January 1,2020 , for $40,800, resulting in investment income of $17,520 3. Sold equipment for $7,320 cash that had originally cost $37,920 and had $20,170 of accumulated depreciation. 4. Issued $22,000 of bonds payable at face value. Required: 1. How much cash was paid in dividends? 2. Prepare a statement of cash flows for Instant Brake for the year ended December 31, 2020, using the indirect method. (List any deduction in cash and cash outflows as negative amounts.)
Plz provide me accurate answers as usually i get the wrong answers whenever i post the questions.
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