Prepare the investing activities statement of cash flows

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Reference no: EM13481577

Income statement items:

Gain on sale of marketablesecurities.........................$42,000

Loss on sales of plantassets......................................33,000

Analysis of balance sheet accounts:

Marketable securities account:

Debitentries..............................................................$75,000

Creditentries..............................................................90,000

Notes receivable account;

Debitentries..............................................................210,000

creditentries.............................................................162,000

Plant and Equipment accounts:

Debit entries to plant assetaccounts............................196,000

Credit entires to plant assetaccounts...........................120,000

Debit entries to accumulated depreciationaccounts........75,000

Prepare the investing activities statement ofcash flows, showing supporting computations for the amounts of (1) proceeds from sales ofmarketable assets and (2) proceeds from sales of plant assets.Place brackets around numbers representing cashoutflows.

Reference no: EM13481577

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