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Unformatted text preview: $415,000. Bought building by issuing common stock 850,000 $ Decrease in accounts payable 34,000 Decrease in accounts receivable 21,000 Depreciation expense 68,000 Dividends on common 50,000 Gain on sale of land 20,000 I i t bl Increase in ncome taxes payable , Increase in inventory 27,800 Increase in prepaid insurance 3,000 Net income 215,000 Purchase of equipment 75,000 Repayment of long-term note payable 180,000 Sale of land 430,000...
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- Spring '11