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The following information apphes to the questions disployed beiow] The following informution was drawn from the yearend balance sheets of Mass Trading Comparyy Additional inlormation
The following information apphes to the questions disployed beiow] The following informution was drawn from the yearend balance sheets of Mass Trading Comparyy Additional inlormation regarding transactions occuming during Year 2 : 1. Investment securities that had cost $6,500 were sold. The Year 2 income statement contained a loss on the sale of investment securities of $730. 2. Equipment with a cost of $55,000 was purchased. 3. The income statement showed a gaim on the site of equipment of $6,000. On the dale of saic. accumulated depreciation on the equipment sold amounted to 57,900 4. A building that had originally cost $159,000 was demolished. 5. Land that had cost $26,700 was sold for $20,000 4. Determine the amount of cash tlow for the porchase of land during Year 2
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