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 investing 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
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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 investing activities:

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