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Dristell Inc. had the following activities during the year (all transactions are for cash unless stated otherwise): a. A building with a book value of
Dristell Inc. had the following activities during the year (all transactions are for cash unless stated otherwise): a. A building with a book value of $400,000 was sold for $500,000. b. Additional common stock was issued for $160,000. c. Dristell purchased its own common stock as treasury stock at a cost of $75,000. d. Land was acquired by Issuing a 6%, 10-year. $750,000 note payable to the seller. e. A dividend of $40,000 was paid to shareholders. f. An Investment In Fleet Corp.'s common stock was made for $120,000. g. New equipment was purchased for $65.000. h. A $90.000 note payable issued three years ago was paid in full. LA loan for $100.000 was made to one of Dristell's suppliers. The supplier plans to repay Dristell this amount plus 10% Interest within 18 months. Required: Calculate net cash flows from financing activities. (Cash outflows should be indicated with a minus sign.) Net cash flows
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