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During 2016, Arctic sold land for $70,000 cash that had originally cost $45,000. Arctic also...

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Accounting

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During 2016, Arctic sold land for $70,000 cash that had originally cost $45,000. Arctic also purchased equipment for cash, acquired treasury stock for cash, and issued bonds payable for cash. Accounts payable relate to merchandise purchases. Required a. Calculate the change in cash that occurred during 2016. b. Prepare a statement of cash flows using the indirect method

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