1.Sunland Company provided the following information on selected transactions during 2021:

	Dividends paid to preferred stockholders		$ 503000
	Loans made to affiliated corporations		1380000
	Proceeds from issuing bonds		1570000
	Proceeds from issuing preferred stock		2050000
	Proceeds from sale of equipment		802000
	Purchases of inventories		2410000
	Purchase of land by issuing bonds		610000
	Purchases of treasury stock		1240000

The net cash provided (used) by investing activities during 2021 is

a	$(1240000).

b	$(578000).

c

$192000.

d

$802000.

2. The following information was taken from the 2021 financial statements of Sheffield Corp.:

Inventory, January 1, 2021	$ 189000
Inventory, December 31, 2021	239000
Accounts payable, January 1, 2021	147000
Accounts payable, December 31, 2021	239000
Sales revenue	1300000
Cost of goods sold	797000

If the direct method is used in the 2021 statement of cash flows, what amount should Sheffield report as cash payments to suppliers?

a

$939000

b

$839000

c

$889000

d

$755000

3. The balance in retained earnings at December 31, 2020 was $1437000 and at December 31, 2021 was $1168000. Net income for 2021 was $1050000. A stock dividend was declared and distributed which increased common stock $494000 and paid-in capital $217000. A cash dividend was declared and paid. The stock dividend should be reported on the statement of cash flows (indirect method) as

a	an outflow from financing activities of $711000.

b	Stock dividends are not shown on a statement of cash flows.

c	an outflow from financing activities of $494000.

d	an outflow from investing activities of $711000.