Mercury Inc. reported net income of $100,000 for 20Y2. In addition, the income statement reported $20,000 of

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Mercury Inc. reported net income of $100,000 for 20Y2. In addition, the income statement reported $20,000 of depreciation expense and a $10,000 gain on the sale of land. The noncurrent assets from the company’s comparative balance sheet are as follows:image text in transcribed

There were no disposals of equipment, and all purchases of equipment were for cash.
Prepare the “Cash flows from investing activities” section of the statement of cash flows.

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Financial And Managerial Accounting

ISBN: 9781337902663

15th Edition

Authors: Carl S. Warren, Jefferson P. Jones, William B. Tayler

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