Homework Answers
Solution 1:
Direcf method:
| Cash flowscfrom investing activities: | |
| Cash proceeds received from sale of land | $42.5 |
Solution 2:
Indirect method:
| Cash flows from operating activities: | |
| Gain on sale of land ($42.5 - $31) | - $11.5 |
| Cash flowscfrom investing activities: | |
| Cash proceeds received from sale of land | $42.5 |
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