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Business, 05.03.2021 02:30 Killakyle4744

d $6,000 on the long-term note payable. Issued new shares of stock for $16,000 cash. No dividends were declared or paid. Other expenses included depreciation, $12,000; wages, $13,000; taxes, $6,000; and other, $7,800. Accounts payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash. Required: 1. Prepare the statement of cash flows for the year ended December 31, current year, using the indirect method. (List cash outflows as negative amounts.)

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d $6,000 on the long-term note payable. Issued new shares of stock for $16,000 cash. No dividends we...
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