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Question 5 (20 marks) MarinRee Inc had the following transactions during the current financial reporting period. Net Profit $22,000 Depreciation $44,000 Increase in accounts receivable
Question 5 (20 marks) MarinRee Inc had the following transactions during the current financial reporting period. Net Profit $22,000 Depreciation $44,000 Increase in accounts receivable $15,000 Increase in inventories $34,500 Decrease in accounts payable $15,000 Decrease in income taxes payable $36,700 Decrease in wages payable $18,000 Proceeds on Sale of $60,000 Equipment Repayment of bonds $50,000 Issuance of Common shares $27,000 Proceeds on sale of land $50,000 Loss on sale of land $5,000 Payment of dividends $10,000 Required: Determine the cashflow for Operating, Investing & Financing activities for the company and calculate the net change in cash
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