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During 2018, ABC Company reports the following activities: 1.Net Income was recorded in the amount of $75,000 2. Depreciationexpense was $10,000 3. Repaid a loan of $10,000 cash 4. Issuedstock in exchange for $30,000 5. Sold equipment which had a bookvalue of $20,000 for $17,000 (recognizing a $3,000 loss). 6.Accounts Receivable decreased by $5,000 7. Accounts Payabledecreased by $2,000 Calculate the cash provided by operatingactivities given the above information.
During 2018, ABC Company reports the following activities: 1.Net Income was recorded in the amount of $75,000 2. Depreciationexpense was $10,000 3. Repaid a loan of $10,000 cash 4. Issuedstock in exchange for $30,000 5. Sold equipment which had a bookvalue of $20,000 for $17,000 (recognizing a $3,000 loss). 6.Accounts Receivable decreased by $5,000 7. Accounts Payabledecreased by $2,000 Calculate the cash provided by operatingactivities given the above information.
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Sixta KovacekLv2
28 Sep 2019