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Question H1. The Sunshine Company's income statement for the year ended January 31, 2023, and its comparathe balance sheets as of January 31,2023 and 2022
Question H1. The Sunshine Company's income statement for the year ended January 31, 2023, and its comparathe balance sheets as of January 31,2023 and 2022 are as follows: During 2023, The Sunshine Company engaged in the below transactions: 1) Equipment that cost $27,000 with accumulated depreciation of $25,000 was sold at a gain of $10,600. 2) Funds borrowed by issuing notes payable, $50,000; notes payable repaid, $30,000. 3) Equipment purchases, $25,000. 4) Paid cash dividends, $18,000. 5) Purchase of a patent, $3,000. 6) Land and building purchased for $324,000 by signing a mortgage for the total cost. 7) Sold 3,000 shares of $20 par value common stock for a total of $100,000. Required: Using the indirect method, prepare a statement of cash flows for The Sunshine Company. Include a supporting schedule of noncash investing and financing transactions
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