the net cash provided by used in financing activities last year was 641397

Megrey Company”s net income last year was $82,000. Changes in the company”s balance sheet accounts for the year appear below:

 

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Increases

 

(Decreases)

Debit balances:

 

Cash

$3,000

Accounts receivable

$5,000

Inventory

$1,000

Prepaid expenses

$(8,000)

Long term investments

$80,000

Plant and equipment

$25,000

Credit balances:

 

Accumulated depreciation

$66,000

Accounts payable

$(7,000)

Accrued liabilities

$(2,000)

Taxes payable

$0

Bonds payable

$(40,000)

Deferred taxes

$15,000

Common stock

$20,000

Retained earnings

$54,000

The company declared and paid cash dividends of $28,000 last year. The following questions pertain to the company”s statement of cash flows.

1 The net cash provided by (used in) operating activities last year was:

A) $90,000

B) $156,000

C) $82,000

D) $148,000

2. The net cash provided by (used in) investing activities last year was:

A) $85,000

B) $(85,000)

C) $105,000

D) $(105,000)

3. The net cash provided by (used in) financing activities last year was:

A) $48,000)

B) $(48,000)

C) $20,000

D) $(20,000)

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