1. Which of the following transactions would be reported in the Investing Activities section?

1. Purchase of land for cash for $15,000
2. Issue of 4,000 shares of common stock for $10 per share
3. Payment of cash dividends of $28,000
4. All of these choices are correct.

2. Russell Corporation had the following activities:

• Recorded depreciation of $5,000
• Purchased $10,000 of equipment with cash
• Paid $4,000 in interest payments
• Received $8,000 cash for the sale of an asset

What is the amount of net cash flows from (used for) investing activities?

1. $2,000
2. $(2,000)
3. $(11,000)
4. None of these choices are correct.