Dristell Inc. had the following activities during the year (all transactions are for cash unless stated otherwise):a. A building with a book value of $400,000 was sold for $500,000.b. Additional common stock was issued for $160,000.c. Dristell purchased its own common stock as treasury stock at a cost of $75,000.d. Land was acquired by issuing a 6%, 10-year, $750,000 note payable to the seller.e. A dividend of $40,000 was paid to shareholders.f. An investment in Fleet Corp.’s common stock was made for $120,000.g. New equipment was purchased for $65,000.h. A $90,000 note payable issued three years ago was paid in full.i. A loan for $100,000 was made to one of Dristell’s suppliers. The supplier plans to repay Dristell this amount plus 10% interest within 18 months.Required: Calculate net cash flows from investing activities.
Dristell Inc. had the following activities during the year (all transactions are for cash unless stated otherwise):
a. A building with a book value of $400,000 was sold for $500,000.
b. Additional common stock was issued for $160,000.
c. Dristell purchased its own common stock as
d. Land was acquired by issuing a 6%, 10-year, $750,000 note payable to the seller.
e. A dividend of $40,000 was paid to shareholders.
f. An investment in Fleet Corp.’s common stock was made for $120,000.
g. New equipment was purchased for $65,000.
h. A $90,000 note payable issued three years ago was paid in full.
i. A loan for $100,000 was made to one of Dristell’s suppliers. The supplier plans to repay Dristell this amount plus 10% interest within 18 months.
Required:
Calculate net cash flows from investing activities.
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