In preparing its cash flow statement for the year ended December 31, 2008, Reve Company collected the following data:

Required:
Determine the following amounts that should be reported in Reve's 2008 statement of cash flows.
1. What amount should Reve report as net cash used in investing activities?
2. What amount should Reve report as net cash provided by financing activities?

Gain on sale of equipment Proceeds from sale of equipment $ 6,000 10,000 Dividends declared Purchase of A.S., Inc. bonds (par value $200,000) Amortization of bond discount Dividends paid 180,000 2,000 45,000 38,000 Proceeds form the sale of treasury stock (carrying amount $65,000) 75,000