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Using the following information, answer the questions that follow. XYZ COMPANIES Income and Expense Statement for the year ending December 3 1 , 2 0

Using the following information, answer the questions that follow.
XYZ COMPANIES
Income and Expense Statement
for the year ending December 31,2022
Sales $2837503
Cost of Goods Sold
908001
Gross Profit 1929502
Salaries Expense 567501
Depreciation and amortization expense 425625
Insurance expense 11350
Interest Expense 17025
Loss from sale of patent 2838
Gain from the sale of land 1419
Total Expenses and others 1022920
Income Before Taxes 906582
Tax Expense 271975
NET INCOME 634608
Partial information of the Comparative Statement of Financial Situation (Balance Sheet)
(Excluding cash, all current asset and current debt accounts of the company are summarized here.)
12/31/2212/31/21 change
Accounts Receivable $198625 $241188 decrease $42563
Inventory 354688283750 increase 70938
Prepaid insurance 76614256 increase 3405
Accounts Payable 70938141875 decrease 70938
Salaries payable 70942838 increase 4256
Interest Payable 14188
11350 increase 2838
Taxes Payable 2411925538 decrease 1419
Other information:
1. During the year, the company sold land with a book value of $255,375.
2. During the year, the company sold a patent with a book value of $85,125.
3. During the year, the company acquired equipment for $397,250 in cash.
4. During the year, the company issued common stock for $46,819, acquired shares of stock for $2,554, and paid dividends of $3,689.
Determine Net Cash from Financing Activities
Enter your answer WITHOUT using a dollar symbol. If the answer is negative, indicate the negative.

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