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Tommy began a business, and after collecting $5,600 from an equity investor and borrowing $4,700 from a bank, he purchased a piece of land for
Tommy began a business, and after collecting $5,600 from an equity investor and borrowing $4,700 from a bank, he purchased a piece of land for $7,400. During the year, he leased the land to Sheila and received $3,200 in cash. He paid $2,200 cash for expenses during the year and paid an $1,300 dividend to the equity investor. Prepare a statement of cash flows for the period. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) Tommy's Business Statement of Cash Flows For the Year Ended
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