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and 2023: begin{tabular}{lrr} Common shares & 781,200 & 651,000 Retained earnings & 141,980 & 76,260 Totiabilities and shareholdersiequity & $1 , 050 ,

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and 2023: \begin{tabular}{lrr} Common shares & 781,200 & 651,000 \\ Retained earnings & 141,980 & 76,260 \\ Totiabilities and shareholdersiequity & $1 , 050 , 280 & $804 , 140 \\ \hline \end{tabular} WILDHORSEINC. Income Statement Year Ended December 31, 2024 1. Cash dividends of $18 , 600 were declared. 2. Along-term investment was acquired for cash at a cost of $125 , 860 . 3. Depreciation expense is included in the operating expenses. 4. The company issued 13,020 common shares for cash on March 2, 2024. The fair value of the shares was $10 per share. The proceeds were used to purchase additional equipment. 5. Equipment that originally cost $37 , 200 was sold during the year for cash. The equipment had a carrying value of $11 , 160 at the time of sale. 6. The company issued a note payable for $34 , 720 and repaid $3 , 720 by year end. 7. All purchases of inventory are on credit. 8. Accounts payable is used only to record purchases of inventory. Prepare a cash flow statement for the year using the direct method. (Show amounts that decrease cosh flow with either a - sign es - 15,000 or in porenthesis es. ( 15 , 000 ) d Prepare a cash flow statement for the year using the direct method, (Show amounts that decrease cash flow with either a-sign eg. - 15, 000

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