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Use the following information for the questions.
The Dolmen Company Income Statement
For the Year Ended June 30, 2019
The Dolmen Company Comparative Balance Sheet June 30, 2019
Liabilities and Stockholders' Equity
Additional information:
Equipment costing $100,000 was sold for $70,000. Accumulated depreciation on this equipment was $20,000. Dividends of $38,000 were declared and paid in 2019.
Bonds were issued at face value of $300,000. Common stock of $55,000 was issued to acquire land.
Investments (stock in IBM) were purchased for $275,000.
-Using the information provided, prepare the cash flows from operating activities for The Dolmen Company.
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