Cash Flows Using Incomplete Data. The marketing manager of Rose Industries hands you an envelope with a few dollar amounts listed on the back. He is temporarily handling the financial duties since the chief accountant took another job. He wants to know a few things about "cash." You look at the envelope and see:

\section*{Required:}
1. What was the cash flow from operating activities?
2. Which of the following responses correctly describes the land transactions?

(a) A net loss of \(\$ 2,200\) would be recorded.

(b) Land transactions caused a net cash inflow of \(\$ 9,000\).

(c) Land transactions caused a net cash outflow of \(\$ 12,400\).

(d) The change in the Land account balance was \(\$ 12,400\).

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Depreciation expense.. Decrease in accounts payable. Increase in tax liability Cash from bank borrowings. Loss on sale of land Net income $ 3,200 4,000 500 19,000 1,000 28,000 Cash from sale of land. 10,000 Cash paid for acquisition of land Cash dividends paid. 22,400 15,000 Cash paid to retire preferred stock 18,500