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Over the past year Company X experienced the following: raised $150,000 by issuing new common shares; had a net income of $200,000; bought
Over the past year Company " X " experienced the following: raised $150,000 by issuing new common shares; had a net income of $200,000; bought $600,000 of new equipment; had depreciation of $60,000; reduced inventories by $100,000; borrowed $100,000 from the bank; sold old equipment for $400,000; paid off a bank loan of $500,000. For the year, Company " X " raised from Financing Activities the following amount of cash: $0 ($250,000) $250,000 $260,000
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