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Assume the following excerpts from a company s balance sheet: Beginning Balance Ending Balance Bonds payable $ 5 0 0 , 0 0 0 $

Assume the following excerpts from a companys balance sheet:
Beginning Balance Ending Balance
Bonds payable $ 500,000 $ 650,000
Common stock $ 950,000 $ 950,000
Retained earnings $ 375,000 $ 440,000
During the year, the companys net income was $120,000 and it did not retire any bonds or issue or repurchase any common stock.
Required:
Calculate the net cash provided by (used in) financingactivities.

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