Gomez Corp. reported the following items for the year ended December $31.$

Item Dec $31$

Purchased an investment in debt securities $($long$-$term$)$ for cash $ $84,000$

Sold equipment for cash, previously used in operations $70,000$

Paid cash for dividends $28,000$

Issued common stock for cash $280,000$

Retired a $10-$year bond payable by repaying the face value at maturity $224,000$

Sold investment in equity securities $($held for one$-$year$)30,800$

Borrowed cash by signing a nine$-$month note payable $42,000$

Extended a loan to a customer for a building expansion $22,400$

$$Note: Use a negative sign to indicate a cash outflow.

 

 

Calculate net cash from financing activities for the year ended December $31.$

Answer rating: 100% (QA)

To calculate the net cash from financing activities we need to categorize the cash flows as either i... View the full answer