Coronary, Inc. had the following transactions during 2020: • Purchased new fixed assets for $35,000 • Converted $20,000 worth of preferred shares to common shares Received cash dividends of $11,000. Paid cash dividends of $20,000. • Repaid mortgage principal of $17,000 . Assuming Coronary follows U.S. GAAP, which of the following amounts represents Coronary's cash flows from investing and cash flows from financing in 2020? Investing: ($35.000); Financing: ($37,000) Investing: ($24,000): Financing: ($26,000) Investing: ($35.000): Financing: ($26,000)

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Coronary, Inc. had the following transactions during 2020:
Purchased new fixed assets for $35,000
Converted $20,000 worth of preferred shares to common shares
Received cash dividends of $11,000. Paid cash dividends of $20,000.
• Repaid mortgage principal of $17,000
.
.
.
Assuming Coronary follows U.S. GAAP, which of the following amounts represents Coronary's cash flows from investing and
cash flows from financing in 2020?
Investing: ($35,000); Financing: ($37,000)
Investing: ($24,000); Financing: ($26,000)
Investing: ($35,000): Financing: ($26,000)
Transcribed Image Text:Coronary, Inc. had the following transactions during 2020: Purchased new fixed assets for $35,000 Converted $20,000 worth of preferred shares to common shares Received cash dividends of $11,000. Paid cash dividends of $20,000. • Repaid mortgage principal of $17,000 . . . Assuming Coronary follows U.S. GAAP, which of the following amounts represents Coronary's cash flows from investing and cash flows from financing in 2020? Investing: ($35,000); Financing: ($37,000) Investing: ($24,000); Financing: ($26,000) Investing: ($35,000): Financing: ($26,000)
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