Refer to RE22-5. Prepare the financing activities section of Tifton & Co.’s statement of cash flows.
In RE22-5, Tifton & Co. had the following cash transactions during the current year:
Proceeds from issuance of common stock ........ $400,000
Payment of dividends .................. 100,000
Payment for purchase of land ............. 75,000
Proceeds from issuance of bonds payable ......... 300,000
Payment for purchase of treasury stock .......... 80,000
Proceeds from sale of equipment ............ 100,000
Payment for purchase of building ............ 500,000
Prepare the investing activities section of Tifton & Co.’s statement of cash flows.