The following transactions occurred at E Brainerd Inc. during 2022. Use this information to compute the company’s net cash flow from investing activities.
1. The company issued 100,000 shares of its own $1 par-value common stock for land with a fair market value of $100,000.
2. The company gave its president a loan of $50,000 and obtained a 5 percent note receivable, dated December 22, 2022, and maturing two years later.
3. The company sold a used truck for $10,000 in cash. The original cost of the truck was $54,000. Depreciation of $44,000 had been deducted.