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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text: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.
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