Question
Bridgeport Corporation had the following activities in 2017. 1. Sold land for $206,000. 2. Purchased an FV-NI investment in common shares for $14,500. 3. Purchased
Bridgeport Corporation had the following activities in 2017.
1.Sold land for $206,000.
2.Purchased an FV-NI investment in common shares for $14,500.3.Purchased inventory for $857,000 for cash.
4.Received $72,700 cash from bank borrowings.
5.Received interest for $12,600.
6.Purchased equipment for $491,000 in exchange for common shares.
7.Issued common shares for $359,000 cash.
8.Recorded an unrealized gain of $3,450 on investments accounted for using the fair value through net income (FV-NI) model.
9.Purchased investments in bonds, reported at amortized cost for $60,150.
10.Declared and paid a dividend of $18,000 (charged to retained earnings).
11.Investments in bonds reported at amortized cost, with a carrying amount of $407,200, were sold for $415,600.
12.Dividends of $4,600 were received on FV-NI investments.
(a)
What is net cash provided by investing activities :
My answer is 564150 but it is not correct
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