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Modern Movables Incorporated is a Washington-based clothing and ski/skate accessories retailer. In a recent quarter, it reported the following activities: Net income $ 1,815 Purchase
Modern Movables Incorporated is a Washington-based clothing and ski/skate accessories retailer. In a recent quarter, it reported the following activities:
Net income | $ 1,815 |
---|---|
Purchase of equipment | 9,106 |
Borrowings under line of credit (bank) | 29,272 |
Proceeds from issuance of common stock | 471 |
Cash received from customers | 421,248 |
Payments to reduce notes payable (long-term) | 24,278 |
Proceeds from sale of marketable securities | 41,245 |
Purchase of marketable securities | 35,091 |
Income taxes paid | 7,407 |
Other fixed assets purchased with promissory notes | 3,541 |
Required:
Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement. (Amounts to be deducted should be indicated with a minus sign.)
MODERN MOVABLES INCORPORATED Statement of Cash Flows (Partial) Cash Flows from Investing Activities: Cash Flows from Financing Activities
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