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Sterling Manufacturing Inc. reported the following balance sheet values: -2022 Net Fixed Assets = $8,500,000 -2022 Accumulated Depreciation = ($2,400,000) -2023 Net Fixed Assets = $12,750,000 -2023 Accumulated Depreciation = ($3,900,000) What was the change in gross fixed assets for Sterling Manufacturing Inc. between 2022 and 2023?

Sterling Manufacturing Inc. reported the following balance sheet values: -2022 Net Fixed Assets = $8,500,000 -2022 Accumulated Depreciation = ($2,400,000) -2023 Net Fixed Assets = $12,750,000 -2023 Accumulated Depreciation = ($3,900,000) What was the change in gross fixed assets for Sterling Manufacturing Inc. between 2022 and 2023?

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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Sterling Manufacturing Inc. reported the following balance sheet values: -2022 Net Fixed Assets = $8,500,000 -2022 Accumulated Depreciation = ($2,400,000) -2023 Net Fixed Assets = $12,750,000 -2023 Accumulated Depreciation = ($3,900,000) What was the change in gross fixed assets for Sterling Manufacturing Inc. between 2022 and 2023?
Transcribed Image Text:Sterling Manufacturing Inc. reported the following balance sheet values: -2022 Net Fixed Assets = $8,500,000 -2022 Accumulated Depreciation = ($2,400,000) -2023 Net Fixed Assets = $12,750,000 -2023 Accumulated Depreciation = ($3,900,000) What was the change in gross fixed assets for Sterling Manufacturing Inc. between 2022 and 2023?
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