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Verizon Communications has requested you to prepare its cash flow statement for the fiscal year 2023. The companys net income was $3,000,000, with depreciation expenses
- Verizon Communications has requested you to prepare its cash flow statement for the fiscal year 2023. The company’s net income was $3,000,000, with depreciation expenses of $200,000, an increase in accounts receivable of $100,000, an increase in inventory of $150,000, and an increase in accounts payable of $50,000. Additionally, the company purchased equipment for $500,000, sold investments for $200,000, issued common stock for $400,000, and paid dividends of $100,000. Discuss the cash flow from operating, investing, and financing activities.
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