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An analysis of Korman Corporation's Investment in Marketable Securities account during 2018 disclosed the following: Page 4 of 5 Debit entries $160,000 Credit entries 240,000 Korman's 2018 income statement included a $40,000 gain on sale of marketable securities and $30,000 dividend income from marketable securities. All payments and proceeds relating to marketable securities transactions were in cash.
Question i. What is the amount of cash paid by Korman Corporation in 2018 for the purchase of marketable securities was:
Question ii. What is the cash proceeds received by Korman Corporation in 2018 for the sale of marketable securities was:
Question iii. How should the transactions involving marketable securities be classified in Korman's statement of cash flows for 2018?
Financial Statement Analysis and Preparation
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