Question
A company had the following transactions during the year: 1. Paid rent for the next two years, $8,700. 2. Purchased office supplies on account, $3,400.
A company had the following transactions during the year:
1. Paid rent for the next two years, $8,700.
2. Purchased office supplies on account, $3,400.
3. Purchased equipment, paying $10,000 cash and issuing a note payable for $8,000.
4. Borrowed from the bank, $6,300.
5. Paid employee salaries, $8,000.
6. Paid $1,600 on account related to transaction 2 above.
7. Paid dividends to stockholders, $3,500.
8. Sold land for $10,800 that was purchased in a prior year for $7,100.
9. Collected cash from customers for services provided, $25,600.
Calculate cash flows from operating activities, investing activities, and financing activities.
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