Compute the amounts that should appear in the statement

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Reference no: EM132767219

An analysis of the Marketable Securities control account of Wallace, Inc., shows the Following entries during the year:

Balance, Jan. 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rs 390,000

Debit entries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 175,000

Credit entries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (130,000)

Balance, Dec. 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 435,000

In addition, the company's income statement includes a Rs.30,000 loss on sales of marketable securities. None of the company's marketable securities is considered a cash equivalent.

Problem 1: Compute the amounts that should appear in the statement of cash flows as: Proceeds from sales of marketable securities

Option 1: Rs. 130000

Option 2: Rs. 160,000

Option 3: Rs. 175,000

Option 4: Rs. 100,000

Reference no: EM132767219

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