Question - Shepherd Industries had the following cash flows by major categories during the current year:
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Cash provided by:
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Receipts from customers
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$560,000
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Sale of bonds
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400,000
|
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Sale of treasury stock
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34,000
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Interest and dividends received
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56,000
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Sale of equipment (at a $56,000 loss)
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236,000
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Cash used for:
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Payments to employees
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$135,000
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Payments to purchase inventory
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190,000
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Dividends on common stock
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60,000
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Purchase of treasury stock
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20,000
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Interest expense
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78,000
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Required - Calculate the net amount of cash provided by or used for financing activities for the year.