Question
Luke Corporation is a manufacturer of home furnishings. Selected financial information about Luke is listed below: Borrowed $850,000 from a bank. Purchased equipment for $210,000
Luke Corporation is a manufacturer of home furnishings. Selected financial information about Luke is listed below: Borrowed $850,000 from a bank. Purchased equipment for $210,000 in cash. Purchase investments for $285,000. Received dividends of $51,000 from an investment in Davis Corp. Paid dividends of $55,000. Issued shares of preferred stock for $500,000. Repurchased outstanding common shares using $100,000 in cash. Purchased land for $100,000 cash. Paid $36,000 interest expense on a bank loan. Increased Inventories by $320,000. Increased accounts receivable by $217,000. Increased accounts payable $85,000. Enter negative values as negative numbers.
Use the above information to calculate Luke's:
a. cash used or provided by investing activities
b. cash used or provided by financing activities
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