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Question
On its December 31st balance sheet, LCG Company reported gross fixed assets of $6,500,000 and net fixed assets of $5,000,000. Depreciation for the year was $500,000. Net fixed assets a year earlier on December 31st, had been $4,700,000. What figure for "Cash Flows Associated with Long-Term Investments (Fixed Assets)" should LCG report on its Statement of Cash Flows for the current year?
a. $500,000
b. $600,000
c. $700,000
d. $800,000
e. $900,000
Answer
This answer is hidden. It contains 402 characters.
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