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Peavy Corp.'s transactions for the year ended December 31, 2018 included the following: • Acquired 50%...

Peavy Corp.'s transactions for the year ended December 31, 2018 included the following:

• Acquired 50% of Gant Corp.'s common stock for $300,000 cash which was borrowed from a bank.

• Issued 5,000 shares of its preferred stock for land having a fair value of $480,000.

• Issued 600 of its 11% debenture bonds, due 2023, for $588,000 cash.

• Purchased a patent for $330,000 cash.

• Paid $180,000 toward a bank loan.

• Sold available-for-sale securities for $1,194,000.

• Had a net increase in returnable customer deposits (long-term) of $132,000.

what was peavy's net cash provided by investing activities and net cash provided by financing activities for 2018

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Answer #1

Calculation of Peavy's net cash provided by investing activities.

Acquired 50% of Gant Corp.'s common stock ($300,000)
Purchased a patent ($330,000)
Sold available-for-sale securities $1,194,000
Net cash provided by investing activities $564,000

Calculation of Peavy's net cash provided by financing activities

Borrowed from bank $300,000
Issue of 11% debenture bonds $588,000
Payment of Bank loan ($180,000)
Increase in returnable customer deposits $132,000
Net cash provided by financing activities $840,000
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