Advise if these were done correctly. Rowe Furniture Corporation is a Virginia-ba

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Advise if these were done correctly.

Rowe Furniture Corporation is a Virginia-based manufacturer of furniture. In a recent quarter, it reported the following activities tatitun tn l S 4.535 911 1.457 15 29 564 50 138 6.994 281 94 Net income Purchase of equipment Borrowings under line of credit (bank) Proceeds from issuance of common stock Cash received from customers Payments to reduce notes payable (long-term) Sale of investments Proceeds from sale of equipment Dividends paid Interest paid Required: Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement (Amounts to be deducted should be indicated with a minus sign.) ROWE FURNITURE CORPORATION Statement of Cash Flows (Partial) Cash Flows from Investing Activities Purchase of Equipment Sale of Investments Proceeds from Sale of Equipment S (911) 138 6,994 $ 6,221 Net Cash Provided by Investing Activities Cash Flows from Financing Activities Borrowings Under Line of Credit Proceeds from Issuance of Common Stock Payments on Notes Payable (long-term) Payment of Dividends nterest Paid Net Cash Provided by Financing Activities $ 1.457 15 (50) (281) (94) $ 1,047

Explanation / Answer

Solution 1:

Solution 2:

Rowe Furniture Corporation Statement of Cash Flows (Partial) Particulars Details Amount Cash Flow from Investing Activities: Purchase of Equipment -$911.00 Sale of investments $138.00 Proceed from sale of equipment $6,994.00 Net Cash Provided by Investing activities $6,221.00 Cash Flow from Financing Activities: Borrowings under line of credit $1,457.00 Proceed from issuance of common stock $15.00 Payments on notes payable -$50.00 Payment of dividends -$281.00 Net Cash Provided by financing activities $1,141.00

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