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Chicago Corporation issued the following statement of cash flows for 2012.
Cash flows from operating activities
Net income
$19,000
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation expense
$ 8,100
Loss on disposal of plant assets
1,300
Decrease in accounts receivable
6,900
Increase in inventory
(4,000)
Decrease in accounts payable
(2,000)
10,300
Net cash provided by operating activities
29,300
Cash flows from investing activities
Sale of investments
1,100
Purchase of equipment
(19,000)
Net cash used by investing activities
(17,900)
Cash flows from financing activities
Issuance of stock
10,000
Payment on long-term note payable
(5,000)
Payment for dividends
(9,000)
Net cash used by financing activities
Net increase in cash
7,400
Cash at beginning of year
Cash at end of year
$ 17,400
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