For the past two years. Monroe Corporation's statement of cash flows has showni net cash used by financing activities. Which of the following choices could explain this result? O Repayment of debt Purchase of land O Receipt of cash dividends from investments in other company's stock Issuance of long-term debt Burton Company purchased a new crane costing $47.000 from Heavy Equipment Corporation. To pay for the crane, Burton traded in an old piece of machinery worth $10,000 and signed a note for the balance of $37,000. How will this transaction be reported on the statement of cash flows? As a use of cash in the investing section and a source of cash in the financing section As a source of cash in the investing section and a source of cash in the financing section O As a use of cash in the operating section and a source of cash in the financing section As a non-cash investing and financing transaction Michael's Industries purchased some land in exchange for 1,000 shares of Michael's voting common stock with a market value of $15 each. How will this transaction be reported on the statement of cash flows? As a non-cash investing and financing transaction O As a non-cash financing transaction O As a non-cash investing transaction O As a use of cash in the investing section and a source of financing in the financing section Using the direct method of preparing the statement of cash flows, which of the following information is used to adjust reported revenues and expenses? The income statement only O The balance sheet only O Both the income statement and the balance sheet O Neither the income statement nor the balance sheet