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Dristell Incorporated had the following activities during the year (all transactions are for cash unless stated otherwise): a. A bullding with a book value of
Dristell Incorporated had the following activities during the year (all transactions are for cash unless stated otherwise): a. A bullding with a book value of $410,000 was sold for $510,000 b. Additional common stock was issued for $170,000 c. Dristell purchased its own common stock as treasury stock at a cost of $80,000 d. Land was acquired by issuing a 6%, 10-year, $760.000 note payable to the seller. e. A dividend of $50,000 was paid to shareholders 1 An investment in Fleet Corporation's common stock was made for $130.000 9. New equipment was purchased for $70,000 h. A $95,000 note payable issued three years ago was paid in full 1. A loan for $110.000 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 fiows from financing activities. (Cash outllows should be indicated with a minus sign.)
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