Question: please show the break down for this problem and the answer. Thank you! Required information The Foundational 15 (Static) [LO13-1, LO13-2] [The following information applies
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Required information The Foundational 15 (Static) [LO13-1, LO13-2] [The following information applies to the questions displayed below] Ravenna Company is a merchandiser that uses the incirect method to prepare the operating actlvities 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. Foundational 13-2 (Static) 2. What net income would the company include on its statement of cash flows
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