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The following is accounting information taken from the Hyde Company's records for 2010: 1. Amortization of premium on bonds payable, $600 2. Purchase of equipment, $6,000 3. Depreciation expense, $7,400 4. Decrease in accounts receivable, $800 5. Decrease in accounts payable, $2,800 6. Issuance of long-term note for cash, $4,200 7. Increase in inventories, $7,500 8. Gain on sale of land, $8,000 9. Increase in prepaid assets, $500 10. Declaration and payment of cash dividends, $1,800 11. Increase in wages payable, $300 12. Patent amortization expense, $1,000 13. Net income, $10,800 Required Prepare the net cash flow from operating activities section of the 2010 statement of cash flows for the Hyde Company.
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The Johnsons Calculate Their Income Taxes
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