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The following information relates to the Ridge Company: Net Income $365,000 Beginning Accounts Payable $119,000 Depreciation Expense 96,000 Ending Accounts Payable 146,000 Amortization of Intangible
The following information relates to the Ridge Company: Net Income $365,000 Beginning Accounts Payable $119,000 Depreciation Expense 96,000 Ending Accounts Payable 146,000 Amortization of Intangible 11,000 Purchase of Long- Term Assets with 616,000 Cash Assets Beginning Accounts Receivable Cash from Issuance of Long-Term 200,000 420,000 Debt Ending Accounts Receivable 439,000 Issuance of Stock for Cash 160,000 Beginning Inventory 516,000 Issuance of Stock for Long-Term 110,000 Assets Ending Inventory Purchase of Treasury Stock 64,000 560,000 Beginning Prepaid Expenses 48,000 42,000 Ending Prepaid Expenses Assume that the indirect method is used. The Net Cash Flows from Financing Activities section will include: Select one: a. $(110,000) b. $64,000 c. $(160,000) d. $200,000 e. $110,000
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