A comparative balance sheet for Lomax Company containing data for the last two years is...
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A comparative balance sheet for Lomax Company containing data for the last two years is as follows: The following additional information is available about the company's activities during this year: a The company declared and paid a cash dividend this year. b Bonds with a principal balance of $ were repaid during this year. c Equipment was sold during this year for $ The equipment had cost $ and had $ in accumulated depreciation on the date of sale. d Longterm investments were sold during the year for $ These investments had cost $ when purchased several years ago. e The subsidiaries did not repay any outstanding loans during the year. f Lomax did not repurchase any of its own stock during the year. The company reported net income this year as follows: tabletableSalesCost of goods soldtable$ 
A comparative balance sheet for Lomax Company containing data for the last two years is as follows:
The following additional information is available about the company's activities during this year:
a The company declared and paid a cash dividend this year.
b Bonds with a principal balance of $ were repaid during this year.
c Equipment was sold during this year for $ The equipment had cost $ and had $ in accumulated depreciation on the date of sale.
d Longterm investments were sold during the year for $ These investments had cost $ when purchased several years ago.
e The subsidiaries did not repay any outstanding loans during the year.
f Lomax did not repurchase any of its own stock during the year.
The company reported net income this year as follows:
tabletableSalesCost of goods soldtable$
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