Investing and Financing Cash Flows The following information was obtained from Galena Company's comparative balance...
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Investing and Financing Cash Flows The following information was obtained from Galena Company's comparative balance sheet. End Beginning of Year of Year $19,000 44,000 55,000 6,000 21,000 Cash Accounts receivable Inventory Prepaid rent Long-term investments Plant assets Accumulated depreciation Accounts payable Income tax payable Common stock Retained earnings Capital expenditures $9,000 35,000 49,000 8,000 34,000 150,000 106,000 (32,000) 24,000 20,000 6,000 21,000 92,000 106,000 91,000 (42,000) 4,000 13,200 Assume that Galena Company's income statement showed depreciation expense of $10,000, a gain on sale of investments of $7,000, and a net income of $51,000. During the year, Galena Company purchased plant assets for cash, sold investments for cash (the entire $7,000 gain developed during the year), and ssued common stock for cash. The firm also declared and paid cash dividends. What items and amounts will appear in (a) the cash flow from investing activities and (b) the cash flow from financing activities sections of a statement of cash flows? Use a negative sign with cash outflow answers
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