The following information was taken from the financial records of the XYZ Company. a) Net income was $189,500 for the period. b) Purchased 10,000 shares of common stock at $15 per share for the treasury. c) Sold equipment with a carrying value of $32,500 at a gain of $6,000. d) Purchased land and a building worth $450,000 by signing a ten-year note. e) Issued $1,000,000 in bonds at par. f) The beginning and ending retained earnings account balances were $418,000 and $534,000, respectively. There were no prior period adjustments. g) Wrote a check for $648,000 for the purchase of machinery. h) Sold long-term investments in stocks with a cost of$50,000 at a loss of $17,500. i) Cash dividends were declared and paid during the period. Required: Prepare the net cash flows from investing activities
The following information was taken from the financial records of the XYZ Company.
a) Net income was $189,500 for the period.
b) Purchased 10,000 shares of common stock at $15 per share for the treasury.
c) Sold equipment with a carrying value of $32,500 at a gain of $6,000.
d) Purchased land and a building worth $450,000 by signing a ten-year note.
e) Issued $1,000,000 in bonds at par.
f) The beginning and ending
$534,000, respectively. There were no prior period adjustments.
g) Wrote a check for $648,000 for the purchase of machinery.
h) Sold long-term investments in stocks with a cost of$50,000 at a loss of $17,500.
i) Cash dividends were declared and paid during the period.
Required: Prepare the net
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