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Question 5.(20 marks) Maggna Inc had the following transactions during the current financial reporting period Net Income $86,000 Depreciation $18,000 Decrease in accounts receivable $35,000
Question 5.(20 marks) Maggna Inc had the following transactions during the current financial reporting period Net Income $86,000 Depreciation $18,000 Decrease in accounts receivable $35,000 Increase in inventories $14,500 Increase in accounts payable $34,000 Decrease in income taxes payable $36,700 Decrease in wages payable $18,000 Proceeds on Sale of $80.000 Equipment Repayment of bonds $50,000 Issuance of Common shares $10.000 Proceeds on sale of land $50,000 Loss on sale of land $20.000 Payment of divends $40,000 Required: Determine the cashflow for Operating, Investing & Financing activities for the company and calculate the net change in cash using the Indirect Method
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