Don't provide answer in image format Blossom Corporation reported the following information(in thousands) at December 31, 2018:Long-term investmentsLandBuildingsAccumulated depreciation-buildingsEquipmentAccumulated depreciation-equipmentAdditional information:1.2.2018$180260300110570300Long-term investments were purchasedduring the year; none were sold.2017$8526030050375300Equipment was purchased during the year. Inaddition, equipment with a cost of $100 anda carrying amount of $70 was sold at a gainof $10.Prepare the investing activities section of Blossom'sstatement of cash flows for the year.

The cash flow statement is one of the important financial statements of the business. It records the…

Additional information: 1. 2. Long-term investments were purchased during the year; none were sold. Equipment was purchased during the year. In addition, equipment with a cost of $100 and a carrying amount of $70 was sold at a gain of $10.

Additional information: 1. 2. Long-term investments were purchased during the year; none were sold. Equipment was purchased during the year. In addition, equipment with a cost of $100 and a carrying amount of $70 was sold at a gain of $10.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter11: Depreciation, Depletion, Impairment, And Disposal

Section: Chapter Questions

Problem 7P: Dinnell Company owns the following assets: In the year of acquisition and retirement of an asset,...

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