Oering's Furniture Corporation is a Virginia-based manufacturer of furniture. In a recent year, it reported the following activities: Net income Purchase of property, plant, and equipment Borrowings under line of credit (bank) Proceeds from issuance of stock Cash received from customers Payments to reduce long-term debt Sale of marketable securities Proceeds from sale of property and equipment Dividends paid Interest paid Purchase of treasury stock (stock repurchase) Required: $ 5,143 2,085 1,126 25 37,170 60 221 6,886 290 100 2,577 Based on this information, present the investing and financing activities sections of the cash flow statement. Note: List cash outflows as negative amounts. > Answer is complete but not entirely correct. OERING'S FURNITURE CORPORATION Statement of Cash Flows (Partial) Cash flows from investing activities: Purchase of property, plant, and equipment Sale of marketable securities Proceeds from sale of property, plant, and equipment Net cash flows provided from investing activities Cash flows from financing activities: Borrowings under line of credit Proceeds from issuance of stock Payments on long-term debt Payment of dividends Purchase of treasury stock Net cash flows used for financing activities $ 2,085 X 221 6,886 0 0 $ 9,192 1,126 25 60 × 290 X 2,577 X 0 ✓ 0 $ 4,078
Oering's Furniture Corporation is a Virginia-based manufacturer of furniture. In a recent year, it reported the following activities: Net income Purchase of property, plant, and equipment Borrowings under line of credit (bank) Proceeds from issuance of stock Cash received from customers Payments to reduce long-term debt Sale of marketable securities Proceeds from sale of property and equipment Dividends paid Interest paid Purchase of treasury stock (stock repurchase) Required: $ 5,143 2,085 1,126 25 37,170 60 221 6,886 290 100 2,577 Based on this information, present the investing and financing activities sections of the cash flow statement. Note: List cash outflows as negative amounts. > Answer is complete but not entirely correct. OERING'S FURNITURE CORPORATION Statement of Cash Flows (Partial) Cash flows from investing activities: Purchase of property, plant, and equipment Sale of marketable securities Proceeds from sale of property, plant, and equipment Net cash flows provided from investing activities Cash flows from financing activities: Borrowings under line of credit Proceeds from issuance of stock Payments on long-term debt Payment of dividends Purchase of treasury stock Net cash flows used for financing activities $ 2,085 X 221 6,886 0 0 $ 9,192 1,126 25 60 × 290 X 2,577 X 0 ✓ 0 $ 4,078
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Oering's Furniture Corporation is a Virginia-based manufacturer of furniture. In a recent year, it reported the following activities:
Net income
Purchase of property, plant, and equipment
Borrowings under line of credit (bank)
Proceeds from issuance of stock
Cash received from customers
Payments to reduce long-term debt
Sale of marketable securities
Proceeds from sale of property and equipment
Dividends paid
Interest paid
Purchase of treasury stock (stock repurchase)
Required:
$ 5,143
2,085
1,126
25
37,170
60
221
6,886
290
100
2,577
Based on this information, present the investing and financing activities sections of the cash flow statement.
Note: List cash outflows as negative amounts.
> Answer is complete but not entirely correct.
OERING'S FURNITURE CORPORATION
Statement of Cash Flows (Partial)
Cash flows from investing activities:
Purchase of property, plant, and equipment
Sale of marketable securities
Proceeds from sale of property, plant, and equipment
Net cash flows provided from investing activities
Cash flows from financing activities:
Borrowings under line of credit
Proceeds from issuance of stock
Payments on long-term debt
Payment of dividends
Purchase of treasury stock
Net cash flows used for financing activities
$
2,085 X
221
6,886
0
0
$ 9,192
1,126
25
60 ×
290 X
2,577 X
0 ✓
0
$
4,078
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