Lucas Company recorded the following events last year: Repurchase by Lucas of its own common stock $23,000 Sale of long-term investment $42,000 Interest paid to lenders $6,500 Dividends paid to the company's shareholders $52,000 Collection by Lucas of a loan made to another company $23,000 Payment of taxes to governmental bodies $14,000 On the statement of cash flows, some of these events are classified as operating activities, some are classified as investing activities, and some are classified as financing activities. Based solely on the information above, determine the net cash provided by (used in) investing activities on the statement of cash flows.

Lucas Company recorded the following events last year: Repurchase by Lucas of its own common stock $23,000 Sale of long-term investment $42,000 Interest paid to lenders $6,500 Dividends paid to the company's shareholders $52,000 Collection by Lucas of a loan made to another company $23,000 Payment of taxes to governmental bodies $14,000 On the statement of cash flows, some of these events are classified as operating activities, some are classified as investing activities, and some are classified as financing activities. Based solely on the information above, determine the net cash provided by (used in) investing activities on the statement of cash flows.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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