The following information is for B Inc.: Net income was $1,700,000. Depreciation expense was $400,000. Interest paid
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Question:
The following information is for B Inc.:
- Net income was $1,700,000.
- Depreciation expense was $400,000.
- Interest paid was $400,000.
- Income taxes paid were $100,000.
- Common stock was sold for $200,000.
- Preferred stock (8% annual dividend) was sold at par value of $250,000.
- Common stock dividends of $50,000 were paid.
- Equipment with a book value of $0 was sold for $200,000.
Using the indirect method, what was B Inc.'s net cash flow from operating activities?
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