Garcia Company has provided information concerning items taken from its financia

Question

Garcia Company has provided information concerning items taken from its financial statements to assist you in preparing its statement of cash flows, direct method: 1. Purchased long-term investments with cash, $187,000. 2. Paid a cash dividend, $47,000 3. Received cash dividends, $57,000. 4. Issued treasury stock for cash, $195,000 5. Declared a cash dividend, $20,000 6. Issued bonds, $172,000 Required: From the information given, calculate the net amount of cash from financing activities or the net amount of cash used for financing activities. o Cash received o Cash used sD Clear Undo Help

Explanation / Answer

Calculate net cash flow from financing activities :

Cash received $320000

Cash flow from financing activities Cash dividend paid (47000) Issue treasury stock 195000 Issue Bonds 172000 Net cash flow from financing activities 320000

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