During 2014, Xan Inc. had the following activities related to its financial operations: Payment for the early

Question:

During 2014, Xan Inc. had the following activities related to its financial operations:
Payment for the early retirement of long-term bonds payable (carrying value $370,000) $375,000
Distribution in 2014 of cash declared in 2013 to preferred shareholders 31,000
Carrying value of convertible preferred stock in Xan converted into common shares 60,000
Proceeds from sale of treasury stock (carrying value at cost, $43,000) 50,000

Required:
In Xan’s 2014 statement of cash flows, how much should net cash used in financing activities be?

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...