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    Orange Corporation: Comparative Balance Sheets

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    Presented below is a condensed version of the comparative balance sheets for The Orange Corporation for the last two years at December 31:

    [see the attached file for the table]

    During 2012, investments were sold at a loss of $9,000; no equipment was sold; cash dividends paid were $20,000; and net income was $150,000.

    Prepare a statement of cash flows for the year ended December 31, 2012.

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    Solution Summary

    Click in cells to see computations. Your tutorial shows an indirect method presentation of cash flows using the data given.