Net income $ 15,500 Cash dividends paid to stockholders 3,600 Cash proceeds from sale of land 3,800 Cash proceeds from bank loan 9,800 Cash payment (principal) on bank loan 2,700 Cash paid to purchase equipment 7,200 The company would report net
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S&L Financial buys and sells securities expecting to earn profits on short-term differences in price. On December 27, 2018, S&L purchased Coca-Cola bonds for $875,000 and sold the the bonds on January 3, 2019, for $881,500.
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