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Joy Elle's Vegetable Market had the following transactions during 2007: 1. Issued $20,000 of par value common stock for cash. 2. Recorded and paid wages
Joy Elle's Vegetable Market had the following transactions during 2007: 1. Issued $20,000 of par value common stock for cash. 2. Recorded and paid wages expense of $90,000. 3. Acquired land by issuing common stock of par value $50,000. 4. Declared and paid a cash dividend of $1,000. 5. Sold a long-term investment (cost $3,000) for cash of $3,000. 6. Recorded cash sales of $120,000. 7. Bought inventory for cash of $2,000. 8. Acquired an investment in IBM stock for cash of $6,000. 9. Converted bonds payable to common stock in the amount of $10,000. 10. Repaid a 6 year note payable in the amount of $10,000. What is the net cash provided by operating activities? O A $8,000. B. $20,000. oc. $28,000 OD. $10,000
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