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Q.2 From following calendar-year information prepare Abrar Company's statement of cash flows using the direct method: Cash paid to purchase machinery SAR 124,000 Cash paid

Q.2 From following calendar-year information prepare Abrar Company's statement of cash flows using the direct method:

Cash paid to purchase machinery

SAR 124,000

Cash paid for merchandise inventory

220,000

Cash paid for operating expenses

280,000

Cash paid for interest

4,000

Cash received for interest

10,000

Cash proceeds from sale of land

100,000

Cash balance at beginning of year

15,000

Cash balance at end of year

77,000

Cash borrowed on a short-term note

25,000

Cash dividends paid

24,000

Cash received from stock issuance

57,000

Cash collections from customers

522,000

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