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step by step explanation is appreciated. The following information was obtained from Galena Company's comparative balance sheets: Assume that Galena Company's income statement showed depreciation
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The following information was obtained from Galena Company's comparative balance sheets: Assume that Galena Company's income statement showed depreciation expense of $11,200, a gain on sale of investments of $16,200, and a net income of $81,000. (a) Calculate the cash flow from operating activities using the indirect method. \$ (b) Compute Galena's operating-cash-flow-to-capital-expenditures ratio. (Round to two decimals.)Step by Step Solution
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