Question - Calculate the net cash provided or used by financing activities for the Garvey Corporation using some or all of the following information.
(a) Net income for the year was $10,000
(b) Sold common stock for $60,000 cash
(c) Paid cash dividend of $5,000
(d) Depreciation expense for the year was $8,000
(e) Paid off long term liability bond payable, $30,000
(f) Purchased equipment for $10,000 cash
Cash flows from financing activities:
Net cash provided or used by financing activities: