Tennessee Moving Company uses the indirect method to prepare its statement of cash flows.Refer to the following portion of the comparative balance sheet:
If the net income for the year was $67,000,the company must have declared $42,000 as dividends during the year.

Question

Tennessee Moving Company uses the indirect method to prepare its statement of cash flows.Refer to the following portion of the comparative balance sheet:
  If the net income for the year was $67,000,the company must have declared $42,000 as dividends during the year.

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Tennessee Moving Company Uses the Indirect Method to Prepare Its