Independent Support, Inc. issued common stock for $550,000 cash in 2017. The company declared and paid cash dividends of $49,000 and purchased treasury stock at a cost of $21,000. The financing section of the statement of cash flows will report Net cash provided by financing activities of:

Question

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Net cash provided by financing activities = $550,000 (issuance of common stock) - $49,000 (cash dividends) - $21,000 (purchase of treasury stock) = $480,000.