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Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet
Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: During the year, Ravenna paid a $10, 200 cash dividend and it sold a piece of equipment for $5, 100 that had Originally cost $11, 400 and had accumulated depreciation of $7, 600. The company did not retire any bonds or repurchase any of its own common stock during the year. Would the operating activities section or the company's statement of cash flows contain an adjustment for a gain or a loss? What would be the amount and direction (+ or -) of the adjustment? What is the amount of net cash provided by (used in) operating activities in the company's statement of cash flows? Net cash operating activities What is the amount of gross cash outflows reported in the investing section of the company's statement of cash flows? Gross cash outflows What is me company's net cash provided by (used in) investing activities? Net cash investing activities What is the amount of gross cash inflows reported in the financing section of the company's statement of cash flows? Gross cash inflows What is the company's net cash provided by (used in) financing activities? Net cash financing activities
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