Question
The following selected account balances were taken from ZZ, Inc.'s general ledger at January 1, 2019 and December 31, 2019: January 1, 2019 December 31,
The following selected account balances were taken from ZZ, Inc.'s general ledger at January 1, 2019 and December 31, 2019: January 1, 2019 December 31, 2019 Accounts receivable 42,000 34,000 Inventory 25,000 28,000 Accounts payable 25,000 17,000 Salaries payable 1,000 5,000 Investments 34,000 50,000 Land 60,000 80,000 Mortgage payable 100,000 50,000 Common stock 110,000 130,000 Retained earnings 30,000 49,000 The following information was taken from ZZ, Inc.'s 2019 income statement: Sales revenue $420,000 Cost of goods sold 286,000 Salaries expense 93,000 Loss on sale of investments 12,000 Net income $ 29,000 It is known that during 2019 ZZ, Inc. purchased investments for $39,000 cash. Calculate the net cash flow from investing activities for 2019.
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