Use the indirect method of preparing a statement of cash flows to answer the question.
Ending balances for Sunday Hut are listed below:
Net income for this year was $97,000 and dividends of $24,000 were declared and paid this year.
What was the net cash used for investing activities?
Definitions:
Useful Life
The period over which an asset is expected to be usable by an entity, affecting its depreciation or amortization schedules.
Revised Estimated
An updated forecast or projection based on new information or a more accurate assessment.
Depreciating Equipment
This refers to the reduction in the value of equipment over time due to wear and tear or obsolescence, recognized as an expense in accounting.
Estimated Total Useful Life
The approximate duration of time that an asset is expected to be functional and economically viable.
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