The Smith Corporation has provided the following information:
Cash dividend payments were $25,000.
Long-term investments were sold for $79,000 cash.
A building costing $198,000 was purchased using $19,800 cash,the balance was financed with a mortgage note payable.
Stock was issued to stockholders in exchange for $110,000 cash.
A $44,000 loan was made to a local inventory supplier; the loan will be repaid in twelve months.
Equipment used in operations was sold for $37,000.
Shares of Smith Corporation stock were acquired from stockholders for $92,000 cash.
Cash received from bank loans totaled $71,000.
Land costing $57,000 was purchased in exchange for a long-term note payable.
Requirement:
Determine Smith's investing activities and financing activities cash flows to be reported on the cash flow statement.
Correct Answer:
Verified
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