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4. The following information is available for Jackson Corporation: (a) Net income for the year was $10,000. (b) Sold common stock for $4,000 cash. (c)
4. The following information is available for Jackson Corporation:
(a) Net income for the year was $10,000.
(b) Sold common stock for $4,000 cash.
(c) Paid cash dividends of $3,000.
(d) Paid $8,000 cash to redeem bonds payable.
(e) Purchased equipment for $12,000 cash.
Required:
Use the above information to calculate the net cash provided or used by financing activities.
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