Intermediate Accounting 14th Edition, Kieso Please help answer BE Chptr 5-16 free cash flow. Martinez Corp engaged in the following cash transactions during 2012: Sale of land and bldg, $191,000. Purchase of treasury stock $40,000, Purchase of land, $37,000, Payment of cash dividend $95,000, Purchase of equipment $53,000, issuance of common stock, $147,000, retirement of bonds $100,000. Determine Martinez's free cash flow, assuming that it reported net cash provided by Operating activities of $400,000. Cash flow is Net cash provided by OA ($400,000) - capital expenditures (37,000 land and 53,000 equip) -dividends (95,000) = $215,000 answer. I wanted to know why treasury stock would not ALSO be deducted as a capital expenditure