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The following financial statements were drawn from the records of Baird Shoes: Additional Information 1. Sold equipment costing $109,400 with accumulated depreciation of $83,470 for
The following financial statements were drawn from the records of Baird Shoes: Additional Information 1. Sold equipment costing $109,400 with accumulated depreciation of $83,470 for $24,030 cash. 2. Paid a $14,193 cash dividend to owners. Required: Analyze the data and prepare a statement of cash flows using the direct method. (Amounts to be deducted and cash outflows should be indicated by a minus sign.) BAIRD SHOES Statement of Cash Flows For the Year Ended December 31, Year 2 Cash Flows From Operating Activities: Cash receipts from customers Cash Payments for: Total cash outflows Cash Flows from Investing Activities
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