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LAH Manufacturing Corporation is preparing the annual financial statements for the stockholders.
A statement of cash flows must be prepared. The following data on cash flows were developed for the entire year ended December 31, 2011:
During the year, a tract of land held as an investment was sold for $25,000 cash (which was the same price that LAH had paid for the land in 2010), and $48,000 cash was expended for two new machines. The machines were used in the factory. The beginning-of-the-year cash balance was $63,000.
Required:
Question 1: Prepare the statement of cash flows for 2011.
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