Shepherd Industries had the following cash Hows by major categories during the current year:
Cash provided by: |
|
Receipts from customers | $560,000 |
Sale of bonds | 400,000 |
Sale of treasury stock | 34,000 |
Interest and dividends received | 56,000 |
Sale of equipment (at a $56,000 loss) | 236,000 |
Cash used for: |
|
Payments to employees | $135,000 |
Payments to purchase inventory | 190,000 |
Dividends on common stock. | 60,000 |
Purchase of treasury stock | 20,000 |
Interest expense | 78,000 |
a. Calculate the net amount of cash provided by or used for financing activities for the year.
b. Briefly justify why you excluded any of the above items in your calculation in part a.
c. Briefly explain your treatment of interest expense in your calculation in part a.
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