25) Hawk Co. provided the following information on selected transactions during 2021: Purchase of land by issuing bonds $1,300,000 Proceeds from issuing bonds 2,500,000 Purchases of inventory 3,800,000 Dividends paid to common stockholders 340,000 Proceeds from issuing preferred stock 1,600,000 Proceeds from sale of land 200,000 The net cash provided (used) by financing activities during 2021 is 26) Deferred tax assets affect both the income statement and the balance sheet. (answer True or False) 27) Interest from tax exempt municipal bonds is an example of a temporary difference which will result in a deferred tax liability. (answer True or False) 28) Warranty expense accrued on the income statement but not yet deducted on the tax report is an example of a temporary difference which will give rise to a deferred tax asset. (answer True or False)