Question
The Smith Corporation has provided the following information: Cash dividend payments were $25,000. Long-term investments were sold for $79,000 cash. A building costing $198,000 was
The Smith Corporation has provided the following information: Cash dividend payments were $25,000. Long-term investments were sold for $79,000 cash. A building costing $198,000 was purchased using $19,800 cash, and the balance was financed with a mortgage note payable. Stock was issued to stockholders in exchange for $110,000 cash. A $44,000 cash investment was made in a local inventory supplier. Equipment used in operations was sold for $37,000. Shares of Smith Corporation stock were acquired (repurchased) from stockholders for $92,000 cash. Cash received from bank loans totaled $71,000. Land costing $57,000 was purchased in exchange for a long-term note payable. Determine Smiths cash flows from investing activities
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