Question

A comparative balance sheet for Cullumber Corporation is presented below. December 31 Assets 2020 2019 Cash $72,080 $23,320 Accounts receivable 86,920 69,960 Inventory 180,200 200,340 Land 75,260 116,600 Equipment 296,800 212,000 Accumulated depreciation–equipment (78,440) (44,520) Total $632,820 $577,700 Liabilities and Stockholders’ Equity Accounts payable $36,040 $49,820 Bonds payable 159,000 212,000 Common stock ($1 par) 173,840 173,840 Retained earnings 263,940 142,040 Total $632,820 $577,700 Additional information: 1. Net income for 2020 was $164,300; there were no gains or losses. 2. Cash dividends of $42,400 were declared and paid. 3. Bonds payable of $53,000 were retired.

Compute each of the following: (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

1. Net cash provided by operating activities $Entry field with incorrect answer now contains modified data ........?

2. Net cash provided (used) by investing activities $Entry field with incorrect answer now contains modified data .....?

3. Net cash provided (used) by financing activities $Entry field with incorrect answer now contains modified data....?

Answer 1