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Mountain Sports Incorporated is a Washington-based clothing and ski/skate accessories retailer. In a recent quarter, it reported the following activities: Net income Purchase of equipment Borrowings under line of credit (bank) Proceeds from issuance of common stock Cash received from customers Payments to reduce notes payable (long-term) Proceeds from sale of marketable securities $ 1,825. 9,116 29,282 481 421,268 24,288 41,255 35,101 7,417 3,551 Purchase of marketable securities Income taxes paid Other fixed assets purchased with promissory notes Required: Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement. (Amounts to be deducted should be indicated with a minus sign.) MOUNTAIN SPORTS INCORPORATED Statement of Cash Flows (Partial) Cash Flows from Investing Activities: Cash Flows from Financing Activities:

Mountain Sports Incorporated is a Washington-based clothing and ski/skate accessories retailer. In a recent quarter, it reported the following activities: Net income Purchase of equipment Borrowings under line of credit (bank) Proceeds from issuance of common stock Cash received from customers Payments to reduce notes payable (long-term) Proceeds from sale of marketable securities $ 1,825. 9,116 29,282 481 421,268 24,288 41,255 35,101 7,417 3,551 Purchase of marketable securities Income taxes paid Other fixed assets purchased with promissory notes Required: Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement. (Amounts to be deducted should be indicated with a minus sign.) MOUNTAIN SPORTS INCORPORATED Statement of Cash Flows (Partial) Cash Flows from Investing Activities: Cash Flows from Financing Activities:

FINANCIAL ACCOUNTING
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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Mountain Sports Incorporated is a Washington-based clothing and ski/skate accessories retailer. In a recent quarter, it reported the following activities: Net income Purchase of equipment Borrowings under line of credit (bank) Proceeds from issuance of common stock Cash received from customers Payments to reduce notes payable (long-term) Proceeds from sale of marketable securities Purchase of marketable securities Income taxes paid Other fixed assets purchased with promissory notes Required: $ 1,825 9,116 29,282 481 421,268 24,288 41,255 35,101 7,417 3,551 Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement. (Amounts to be deducted should be indicated with a minus sign.) MOUNTAIN SPORTS INCORPORATED Statement of Cash Flows (Partial) Cash Flows from Investing Activities: Cash Flows from Financing Activities:
Transcribed Image Text:Mountain Sports Incorporated is a Washington-based clothing and ski/skate accessories retailer. In a recent quarter, it reported the following activities: Net income Purchase of equipment Borrowings under line of credit (bank) Proceeds from issuance of common stock Cash received from customers Payments to reduce notes payable (long-term) Proceeds from sale of marketable securities Purchase of marketable securities Income taxes paid Other fixed assets purchased with promissory notes Required: $ 1,825 9,116 29,282 481 421,268 24,288 41,255 35,101 7,417 3,551 Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement. (Amounts to be deducted should be indicated with a minus sign.) MOUNTAIN SPORTS INCORPORATED Statement of Cash Flows (Partial) Cash Flows from Investing Activities: Cash Flows from Financing Activities:
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