Alkine Company's comparative balance sheet appears below: Alkine reported the following net income for the year: Dividends were declared and paid during the year. A gain of $8,000 was recorded on the sale of the long-term investments. The company did not purchase any long-term investments or dispose of any property, plant, and equipment during the year. It also did not issue any bonds payable or repurchase any of its own common stock.
-The net cash provided (used)by financing activities would be:
A)$3,000
B)$(5,000)
C)$(58,200)
D)$(61,200)

Question

Alkine Company's comparative balance sheet appears below:  Alkine reported the following net income for the year:  Dividends were declared and paid during the year. A gain of $8,000 was recorded on the sale of the long-term investments. The company did not purchase any long-term investments or dispose of any property, plant, and equipment during the year. It also did not issue any bonds payable or repurchase any of its own common stock.
-The net cash provided (used)by financing activities would be:
A)$3,000 
B)$(5,000) 
C)$(58,200) 
D)$(61,200)

Quizplus · Accepted Answer

Financing activities:
 11eaa48f_7aec_d001_9e4a_cbab29282cb5_TB2485_00

Alkine Company's Comparative Balance Sheet Appears Below: Alkine Reported