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During the year, Deepa Inc. has completed the following transactions: 1 Borrowed $700,000 from the bank for 5 years at 10% per annum. 2 Declared
During the year, Deepa Inc. has completed the following transactions: 1 Borrowed $700,000 from the bank for 5 years at 10% per annum. 2 Declared and paid dividends in the amount of $400,000 3 Received $3,500,000 in cash for product sales 4 Sold used furniture and equipment for $400,000 and realized a $200,000 loss on the sale 5 Purchased a new building to expand its production for $250,000 in cash 6 Issued new stock - 30,000 shares at $15 per share 7 Paid $2,460,000 to suppliers 8 Paid $980,000 in salaries and wages How much is its net cash flow from financing activities
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