Alp, Inc. had the following activities during 2008: Acquired 2,000 shares of stock in Maybel, Inc.
Question:
Alp, Inc. had the following activities during 2008:
• Acquired 2,000 shares of stock in Maybel, Inc. for \($26,000\).
• Sold an investment in Rate Motors for \($35,000\) when the carrying value was \($33,000\).
• Acquired a \($50,000\), four-year certificate of deposit from a bank. (During the year, interest of \($3,750\) was paid to Alp.)
• Collected dividends of \($1,200\) on stock investments.
Required:
In Alp’s 2008 statement of cash flows, what amount would be shown for net cash used in investing activities?
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