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Selected information follows for Sandhill Select Corporation at December 31 : Additional information: 1. Principal payments on the mortgage payable were $24,500. 2. A building
Selected information follows for Sandhill Select Corporation at December 31 : Additional information: 1. Principal payments on the mortgage payable were $24,500. 2. A building was purchased for $490,000 by paying $196,000 cash and signing a mortgage note payable for the balance. 3. Profit for the year was $142,100. Assuming the company reports under ASPE and all dividends have been paid, prepare the financing activities section of the cash fle statement. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis eg. (15,000).) Note X : During the year, the company acquired a building with a cost of $ by paying $ cash and incurring a mortgage note payable of \$
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