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Using the information for the Kenwood Company included below, prepare a statement of cash flows using the indirect method. Net income for 2009 was $121,000

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Using the information for the Kenwood Company included below, prepare a statement of cash flows using the indirect method. Net income for 2009 was $121,000 Selected accounts and transactions On February 1, 2009, Kenwood issued a 10 percent stock dividend to stockholders of record on March 1, 2009. The market price per share of the common stock on February 1, 2009, was $15. b. On March 1, 2009, Kenwood issued 3, 800 shares of common stock for land. The common stock had a current market value of approximately $40,000 on March 1, 2009. c. On April 15, 2009, Kenwood repurchased its long-term bonds payable with a face value of $23,000, for $19,000 in cash. d. On June 30, 2009, Kenwood sold equipment that costs $53,000, with a book value of $23,000 for $19,000 in cash. e. On September 30, 2009, Kenwood declared a cash dividend of 4 cents per share to stockholders of record on November 1, 2009. f. On October 10, 2009, Kenwood purchased land for $85,000 in cash

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