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ing equipment during 2021 but made no additional capital investments in 2022 preciated over five years using straight - line depreciation, starting in 2021. Assu s to cash flow than those mentioned here, create a statement of cash flows for 2 thousands. What is the Net Cash Flow in 2022? Note: Financial results are provi statement units are thousands of dollars. Please specify your answer in the sam

ing equipment during 2021 but made no additional capital investments in 2022 preciated over five years using straight - line depreciation, starting in 2021. Assu s to cash flow than those mentioned here, create a statement of cash flows for 2 thousands. What is the Net Cash Flow in 2022? Note: Financial results are provi statement units are thousands of dollars. Please specify your answer in the sam

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Hopewell Corporation had Net Income for 2022 of $7,300,000. The firm invested $3,000,000 in manufacturing equipment during 2021 but made no additional capital investments in 2022. The equipment is being depreciated over five years using straight-line depreciation, starting in 2021. Assuming no other adjustments to cash flow than those mentioned here, create a statement of cash flows for 2022 with amounts in thousands. What is the Net Cash Flow in 2022? Note: Financial results are provided in dollars but the income statement units are thousands of dollars. Please specify your answer in the same units as the statement of cash flows (i.e., enter the number from your completed statement of cash flows).
Transcribed Image Text:Hopewell Corporation had Net Income for 2022 of $7,300,000. The firm invested $3,000,000 in manufacturing equipment during 2021 but made no additional capital investments in 2022. The equipment is being depreciated over five years using straight-line depreciation, starting in 2021. Assuming no other adjustments to cash flow than those mentioned here, create a statement of cash flows for 2022 with amounts in thousands. What is the Net Cash Flow in 2022? Note: Financial results are provided in dollars but the income statement units are thousands of dollars. Please specify your answer in the same units as the statement of cash flows (i.e., enter the number from your completed statement of cash flows).
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