Gibraltar Steel Corporation is a Buffalo, New York-based manufacturer of high-value-added coldrolled steel products. In a recent year, it reported the following activities:

Required: 1. Based on this information, present the Cash Flow from Investing and Financing Activities sections of the cash flow statement. 2. What do you think was Gibraltar management's plan for the use of the cash generated by the initial public offering of stock?

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Net income Purchase of property, plant, and equipment Payments of notes payable (bank) $ 5,213 10,468 8.598 Net proceeds of initial public offering Depreciation and amortization Long-term debt reduction Proceeds from sale of marketable securities Proceeds from sale of property, plant, and equipment Proceeds from long-term debt Decrease in accounts receivable Proceeds from notes payable (bank) 26,061 3,399 17,832 131 1,817 10,242 1,137 3,848