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Investing and Financing Cash Flows The following information was obtained from Galena Company's comparative balance sheet. Assume that Galena Company's income statement showed depreciation expense
Investing and Financing Cash Flows The following information was obtained from Galena Company's comparative balance sheet. Assume that Galena Company's income statement showed depreciation expense of $8,000, a gain on sale of investments of $9,000, and a net income of $45,000. During the year, Galena Company purchased plant assets for cash, sold investments for cash (the entire $9,000 gain developed during the year), and issued common stock for cash. The firm also declared and paid cash dividends. What items and amounts will appear in (a) the cash flow from investing activities and (b) the cash flow from financing activities sections of a statement of cash flows? Use negative signs with cash outflow answers
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