Please answer 25-28

25) Hawk Co. provided the following information on selected transactions during 2021:

Purchase of land by issuing bonds $1,300,000

Proceeds from issuing bonds 2,500,000

Purchases of inventory 3,800,000

Dividends paid to common stockholders 340,000

Proceeds from issuing preferred stock 1,600,000

Proceeds from sale of land 200,000

The net cash provided (used) by financing activities during 2021 is ________

26) Deferred tax assets affect both the income statement and the balance sheet. (answer True or False)

27) Interest from tax exempt municipal bonds is an example of a temporary difference which will result in a deferred tax liability. (answer True or False)

28) Warranty expense accrued on the income statement but not yet deducted on the tax report is an example of a temporary difference which will give rise to a deferred tax asset. (answer True or False)