Trak Corporation is a manufacturer of home furnishings. Selected financial information about Luke is listed below: Borrowed $850,000 from a bank. Purchased equipment for $210,000 in cash. Purchase investments for $285,000. Received dividends of $51,000 from an investment in Davis Corp. Paid dividends of $55,000. Issued shares of preferred stock for $500,000. Repurchased outstanding common shares using $100,000 in cash. Purchased land for $100,000 cash. Paid $36,000 interest expense on a bank loan. Increased Inventories by $320,000 Increased accounts receivable by $217,000. Increased accounts payable $85,000. Use the above information to calculate Trak’s cash used or provided by financing activities
Trak Corporation is a manufacturer of home furnishings. Selected financial information about Luke is listed below: Borrowed $850,000 from a bank. Purchased equipment for $210,000 in cash. Purchase investments for $285,000. Received dividends of $51,000 from an investment in Davis Corp. Paid dividends of $55,000. Issued shares of preferred stock for $500,000. Repurchased outstanding common shares using $100,000 in cash. Purchased land for $100,000 cash. Paid $36,000 interest expense on a bank loan. Increased Inventories by $320,000 Increased accounts receivable by $217,000. Increased accounts payable $85,000. Use the above information to calculate Trak’s cash used or provided by financing activities
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Trak Corporation is a manufacturer of home furnishings. Selected financial information about Luke is listed below:
- Borrowed $850,000 from a bank.
- Purchased equipment for $210,000 in cash.
- Purchase investments for $285,000.
- Received dividends of $51,000 from an investment in Davis Corp.
- Paid dividends of $55,000.
- Issued shares of
preferred stock for $500,000. - Repurchased outstanding common shares using $100,000 in cash.
- Purchased land for $100,000 cash.
- Paid $36,000 interest expense on a bank loan.
- Increased Inventories by $320,000
- Increased accounts receivable by $217,000.
- Increased accounts payable $85,000.
Use the above information to calculate Trak’s cash used or provided by financing activities:
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