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Problem 4 The following information is for Edgewood Inc. for the year ended December 31, 2021. Edgewood had a balance for cash and cash equivalents
Problem 4 The following information is for Edgewood Inc. for the year ended December 31, 2021. Edgewood had a balance for cash and cash equivalents of $5,200 on January 1, 2021. Cash received from: Customers Interest on investments Sale of land Issuance of common stock Issuance of debt securities $ 1,900 200 100 600 2,000 Cash paid for: Interest on debt Income tax Debt principal reduction Purchase of equipment Purchase of inventory Dividends on common stock Operating expenses $ 300 80 1,500 4,100 1,000 200 500 Required: Prepare a statement of cash flows for the year using the direct method for operating activities. Make sure you have proper headings, columns, subtotals and totals
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