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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
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 Dristel'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.) Answer is complete but not entirely correct. Net cash Rows 215,000 O Return to questio
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