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Dear Tutor, I need assistance with the following question. 200. During Year2, Grace Company had the following transactions related to its financial operations: Payment for
Dear Tutor,
I need assistance with the following question.
200. During Year2, Grace Company had the following transactions related to its financial operations: Payment for the retirement of long-term bonds payable (carrying $750,000 value $740,000) Distribution in year 2 of cash dividend declared in year 1 to $62,200 preferred shareholders Interest paid on long-term debt $13,500 Carrying value of convertible preferred stock in Grace converted $120,000 into common shares Proceeds from sale of treasury stock (cost of treasury stock $95,000 was $86,000) Using only the limited information available here, what should be reported as the net source or use of cash from financing activities on the Year 2 statement of cash flows
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