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The following data is supplied from the comparative balance sheets and income statement information from Moreno,Inc.Moreno uses the indirect method to prepare the statement of cash flows.Net income for 2016 was $40,000.No long term assets were sold during the year.During 2016,Moreno paid dividends of $24,000.
Use the following to answer questions 128 ― 130:
-Prepare the investing activities section of Moreno's statement of cash flows.
Unlawful Act
An action that is forbidden by law or legislation.
Statute
A written law passed by a legislative body at the federal, state, or local level, which governs society and is enforceable by the courts.
Summary Judgment
A summary judgment is a legal determination made by a court without a full trial, granted when there is no dispute over the material facts of the case and one party is entitled to judgment as a matter of law.
Probable Cause
A reasonable ground for belief that someone may have committed a crime, warranting their arrest or the issuance of a search warrant.
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