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The following are summary cash transactions that occurred during the year for Hope Healthcare Company (HHC):
| Cash received from: | |
| Customers | $ 850,000 |
| Interest on notes receivable | 31,000 |
| Collection of notes receivable | 290,000 |
| Sale of land | 59,000 |
| Issuance of common stock | 390,000 |
| Cash paid for: | |
| Interest on notes payable | 37,000 |
| Purchase of equipment | 215,000 |
| Operating expenses | 535,000 |
| Dividends to shareholders | 49,000 |
Prepare the cash flows from operating activities section of HHCs statement of cash flows using the direct method.
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