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The following balance sheets apply to American Airlines at year-end December 31, 2023: Assets 2023 2022 Cash & Cash Equivalents $1,400 $1,000 Accounts Receivable 480
The following balance sheets apply to American Airlines at year-end December 31, 2023:
Assets | 2023 | 2022 |
---|---|---|
Cash & Cash Equivalents | $1,400 | $1,000 |
Accounts Receivable | 480 | 530 |
Inventory | 1,460 | 890 |
Land | 980 | 600 |
Equipment | 5,520 | 4,970 |
Accumulated Depreciation | (960) | (740) |
Total Assets | $8,880 | $7,250 |
Liabilities & Stockholders Equity | ||
Accounts Payable | $1,200 | $1,920 |
Long-Term Borrowings | 1,680 | 2,210 |
Common Stock | 2,400 | 1,440 |
Retained Earnings | 3,600 | 1,680 |
Total Liabilities & Stockholders Equity | $8,880 | $7,250 |
Additional Information:
Net Income for 2023 was $2,600. During 2023, the Company sold Equipment for $890, that originally cost $890 and had a book value of $700. The Company sold Land for $500, resulting in a Loss of $100. The remaining Land change was due to the acquisition of Land for Common Stock.
Using the indirect method, calculate Total Cash Flow from Investing for December 31, 2023?
Select one:
a. $(940)
b. $(50)
c. $(1,440)
d. $1,390
e. $(1,010)
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