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The comparative post-closing trial balances for the Dallas Department Store show the following information 2014 2013 Cash and Cash Equivalents Accounts Receivable Inventory Prepaid Expenses

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The comparative post-closing trial balances for the Dallas Department Store show the following information 2014 2013 Cash and Cash Equivalents Accounts Receivable Inventory Prepaid Expenses Accounts Payable Accrued Liabilities $ 28,800 24,000 144,000 7,200 30,000 12,000 12,000 36,000 96,000 6,000 24,000 9,600 In addition to the above information, you learn the following During the year, plant assets were purchased for 180,000 cash Plant assets with a book value of $36,000 were sold for $48,000 cash Net Income includes the $12,000 gain on the sale Depreciation expense for the year was $98,400 . Common Stock was sold for $36,000 cash Cash dividends of 12,000 were paid during the year Net Income for 2014 was S67,200 Required: Prepare a statement of cash flows using the indirect method. Make sure your cash flow statement includes appropriate headings, titles, totals, subtotals, AND IS LEGIBLE

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