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The balance sheet data of Novak Company at the end of 2017 and 2016 follow. 2017 2016 Cash $29,000 $34,900 Accounts receivable (net) 55,200 44,900
The balance sheet data of Novak Company at the end of 2017 and 2016 follow. 2017 2016 Cash $29,000 $34,900 Accounts receivable (net) 55,200 44,900 Inventory 64,900 44,600 Prepaid expenses 15,100 24,900 Equipment 90,100 75,600 Accumulated depreciation-equipment (18,200 ) (7,200 ) Land 80,600 39,800 $316,700 $257,500 Accounts payable $67,200 $53,300 Accrued expenses 14,800 17,900 Notes payable-bank, long-term -0- 23,000 Bonds payable 29,700 -0- Common stock, $10 par 198,700 157,900 Retained earnings 6,300 5,400 $316,700 $257,500 Land was acquired for $40,800 in exchange for common stock, par $40,800, during the year; all equipment purchased was for cash. Equipment costing $10,100 was sold for $2,200; book value of the equipment was $6,000. Cash dividends of $10,000 were declared and paid during the year. Compute net cash provided (used) by: (a) Operating activities. (b) Investing activities. (c) Financing activities. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) (a) Net cash by operating activities $ (b) Net cash by investing activities (c) Net cash by financing activities LA used provided
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