On its 2008 income statement mertis recorded depreciation

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Reference no: EM13596569

Mertis, Inc. reported Net fixed assets as follows on its Balance sheets for December 31, 2007 and December 31, 2008 look as follows:

2007 2008.Net fixed assets 815,000 865,000

On its 2008 Income statement, Mertis recorded depreciation expense of $17,560. What amount of cash did Mertis spend in 2008 on new fixed assets?

Reference no: EM13596569

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