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PROBLEM 2: The following data relates to Patriots Co, financial statements of 19XI: (in million Depreciation Expense Net Income Accounts Receivable on 12/31/1980 Accounts Receivable

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PROBLEM 2: The following data relates to Patriots Co, financial statements of 19XI: (in million Depreciation Expense Net Income Accounts Receivable on 12/31/1980 Accounts Receivable on 12/31/19X1 Inventory on 12/31/19X0 Inventory on 12/31/19X1 Accounts Payable on 12/31/1980 Accounts Payable on 12/31/19X1 Gain on Sale of Equipment $15 $190 $40 $42 $50 $62 $20 $35 $2 The gain on sale of equipment was recorded for equipment with net book value of $11, It was sold for cash. During the year, Patriots Co. retired bonds of $29. (as the bonds matured). During the year, Patriots Co, issued common stock for $50. During the year, Patriots Co. declared dividend of $20 and paid dividend of $32. During the year, Patriots Co. purchased equipment for $63 on credit. During the year, Patriots Co. sold common stock of Celtics company for $60 (all in cash). Prepare the part of Statement of Cash Flow, related to the Investing Activities

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