Determine amount of net cash used in financing activities


Response to the following problem:

During 2013, Stout Inc. had the following activities related to its financial operations: Carrying value of convertible preferred stock in Stout,

converted into common shares of Stout $360,000

payment in 2013 of cash dividend declared in 2012 to preferred shareholders $186,000

payment for the early retirement of long-term bonds payable (carrying amount $2,420,000) $2,450,000.

Proceeds from the sale of treasury stock (on books at cost of $258,000) $300,000

The amount of net cash used in financing activities to appear in Stout's statement of cash flows for 2013 should be how much.

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Financial Accounting: Determine amount of net cash used in financing activities
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