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Determine towson company net cash flows

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Reference no: EM132906573

he following information is related to Towson Company's fiscal year 2020.

Income Statement:

Net Income $3,000,000

Depreciation Expense 300,000

Loss on Sale of Plant Assets 65,000

Interest Expense 5,000

Balance Sheet - 12/31/17: Increase (Decrease)

Accounts Payable decrease 40,000

Plant Assets - Purchased 250,000

Plant Assets - Disposals (100,000)

Additional Information:

  • Common Stock exchanged for outstanding Long Term Notes Payable of $125,000
  • Dividends paid were $30,000

Problem 1: Use this information to determine Towson Company's Net Cash Flows from Operating Activities.

Reference no: EM132906573

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