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please explain the answer of this auestion as soon as possible. please explqin properly with full picture of the answer. one answer is available on
please explain the answer of this auestion as soon as possible. please explqin properly with full picture of the answer. one answer is available on chegg but not properly showing.
During the whole of last year, the market value of shares in IC Inc. was $100 per share. At the start of last year, IC Inc. had 10,000 common shares in issue. During the year, the company issued a further 10,000 shares, all of which were awarded to managers as part of their remuneration package. The company also bought 1,000 shares from a retiring manager, which cost them $100,000. These shares were cancelled. The company also borrowed $2,500,000 to finance an expansion of the company into new markets. The company paid $250,000 as common share dividends. Calculate the cash from or cash used in financing activities Step by Step Solution
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