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The following schedule of information relates to Texas Co. for the year ended December 31, 2019: For issuance of Texas Company common stock $ 68,400

The following schedule of information relates to Texas Co. for the year ended December 31, 2019:

For issuance of Texas Company common stock

$ 68,400

From sale of land (original cost $64,000)

93,000

From sale of intangible assets (at net book value)

47,500

For purchase of bonds as investment

950,000

To stockholders as dividends

126,000

The companys balance sheet reports the following:

December 31, 2019

December 31, 2018

Cash

$ 127,408

$ 74,000

Accounts receivable

354,000

392,000

Inventory

67,000

51,400

Accounts payable

480,000

375,000

Accrued liabilities

365,000

387,000

The companys 2019 income statement reports the following:

Depreciation expense

$ 115,500

Loss on obsolete inventory

127,700

Net income

600,908

  1. Provide the amount for Cash Flows from Operating Activities.
  2. Provide the amount for Cash Flows from Investing Activities.
  3. Provide the amount for Cash Flows from Financing Activities.

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