Prepare the net cash flows from investing activities?- Please explain in detail and show your calculations (no

Fantastic news! We've Found the answer you've been seeking!

Question:

Prepare the net cash flows from investing activities?- Please explain in detail and show your calculations (no word limit)

The following information was taken from the financial records of the Niagara College. a) Net income was $598,000 for the period. b) Purchased 30,000 shares of common stock at $15 per share for the treasury. c) Sold equipment with a carrying value of $76,200 at a gain of $9,000. d) Purchased land and a building worth $860,000 by signing a ten-year note. e) Issued $2,000,000 in bonds at par. f) The beginning and ending retained earnings account balances were $718,000 and $688,000, respectively. There were no prior period adjustments. g) Wrote a check for $982,000 for the purchase of machinery. h) Sold long-term investments in stocks with a cost of$80,000 at a loss of $32,200. i) Cash dividends were declared and paid during the period.