During the year, Paton Corporation's Long-Term Investments account (at cost) increased ($ 20,000), the net result of
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During the year, Paton Corporation's Long-Term Investments account (at cost) increased \(\$ 20,000\), the net result of purchasing stocks costing \(\$ 85,000\) and selling stocks costing \(\$ 65,000\) at a \(\$ 7,000\) loss. Also, the Bonds Payable account decreased by \(\$ 35,000\), the net result of issuing \(\$ 100,000\) of bonds at 102 and retiring bonds with a face value (and book value) of \(\$ 135,000\) at an \(\$ 8,000\) gain. What items and amounts will appear in the (a) cash flows from investing activities and the (b) cash flows from financing activities sections of Paton's statement of cash flows?
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