QUESTION 2

1. Bayside Company reported a net loss of $8,000 for the year ended December 31, 2019. During the year, accounts receivable increased $15,000, merchandise inventory decreased $20,000, accounts payable decreased by $20,000, and depreciation expense of $12,000 was recorded. During 2019, operating activities

   	a.	provided net cash of $16,000.
   	b.	used net cash of $11,000.
   	c.	provided net cash of $8,000.
   	d.	used net cash of $14,000.

QUESTION 3

1. Strombolis Market had the following transactions during 2020:

   • Issued $60,000 of par value common stock for cash.
   • Repaid a 6 year note payable in the amount of $15,000.
   • Acquired land by issuing common stock of par value $50,000.
   • Declared and paid a cash dividend of $21,000.
   • Sold a long-term investment (cost $3,000) for cash of $6,000.
   • Acquired an investment in IBM stock for cash of $20,000.

   What is the net cash provided by financing activities?

   	a.	$4,000
   	b.	$30,000
   	c.	$24,000
   	d.	$21,000