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Condensed tinancial data of Sandhill Company appear below: SANDHILL COMPANY Income Statement For the...

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Accounting

Condensed tinancial data of Sandhill Company appear below:
SANDHILL COMPANY
Income Statement
For the Year Ended December 31,2022
Additional information:
New plant assets costing $88,000 were purchased for cash in 2022.
Old plant assets costing $28,500 were sold for $6,000 cash when book value was $14,300.
Bonds with a face value of $20,000 were converted into $20,000 of common stock.
A cash dividend of $26,000 was declared and paid during the year.
Accounts payable pertain to merchandise purchases.
Prepare a statement of cash flows for the year using the direct method. (Show amounts that decrease cash flow with either a - sign
e.g.-15,000 or in parenthesis e.g.(15,000).)
SANDHILL COMPANY
Statement of Cash Flows
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