Question: please show the beeak down for this problem and the answer. Thank you! [The following information applies to the questions displayed below] Ravenna Company is
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[The following information applies to the questions displayed below] Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: During the year. Ravenna paid a $6,000 cash dividend and it sold a piece of equipment for $3,000 that had originally cost $6,000 and had accumulated depreciation of $4,000. The company did not retire any bonds or repurchase any of its own common stock during the year. During the year, Ravenna paid a $6,000 cash dividend and it sold a piece of equipment for $3,000 that had originally cost $6.000 and had accumulated depreciation of $4,000. The company did not retire any bonds or repurchase any of its own common stock during the year. oundational 1310 (Static) 10. Would the operating activities section of the company's statement of cash flows contain an adjustment for a gain or a loss? What would be the amount and direction (t or ) of the adjustment
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