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The consolidated balance sheets for the Landon Lumber Company at the beginning and end of 2009 follow. The company bought $50 million worth of fixed
The consolidated balance sheets for the Landon Lumber Company at the beginning and end of 2009 follow. The company bought $50 million worth of fixed assets. The charge for depreciation in 2009 was $10 million. Net income was $33 million, and the company paid out $5 million in dividends. a. Fill in the amount of the source or use in the appropriate column. LANDON LUMBER COMPANY: BALANCE SHEET AT BEGINNING AND END OF 2009 (Millions of Dollars) b. Prepare a statement of cash flows c. Briefly summarize your findings
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