Essay
The starting and ending balances for relevant asset and liability accounts that changed during the year are presented below.Net income was $650,000 for the year and dividends paid were $150,000.Amortization expense for 2007 was $7,000,and all other changes in accumulated amortization and property,plant,and equipment related to the sale of property at book value.No other non-cash transactions occurred.Use this information to calculate the net cash inflows (outflows)from investing and financing activities in 2007.
Correct Answer:
Verified
Correct Answer:
Verified
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