Question: Vaughn Corporation's comparative balance sheets are presented below. Additional information: 1. Net income was $18,700. Dividends declared and paid were $10,300. 2. Equipment which cost

Vaughn Corporation's comparative balance sheets are presented below. Additional information: 1.

Vaughn Corporation's comparative balance sheets are presented below. Additional information: 1. Net income was $18,700. Dividends declared and paid were $10,300. 2. Equipment which cost $13,000 and had accumulated depreciation of $3,000 was sold for $5,000. 3. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation

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