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Analysis of an income statement, balance sheet, and additional information from the accounting records of Gadgets, Inc., reve
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Items Activities
1 Purchase of patent Investing activities
2 Depreciation expense Operating activities
3 Decrease in accounts receivable Operating activities
4 Issuance of note payable Financing activities
5 Increase in inventory Operating activities
6 Collection of notes receivable Investing activities
7 Purchase of equipment Investing activities
8 Exchange of long-term assets Non cash activities
9 Decrease in accounts payable Operating activities
10 Payment of dividends Financing activities
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