During 2018, Stout Inc. had the following activities related to its financial operations: Book Value of Stout
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Question:
During 2018, Stout Inc. had the following activities related to its financial operations:
Book Value of Stout Convertible Preferred Stock, converted into common shares of Stout $540,000
Payment in 2018 of the cash dividend declared in 2017 to preferred shareholders 279,000
Payment for early withdrawal of long-term bonds payable (carrying amount $3,930,000) 3,975,000
Proceeds from the sale of own shares (in books at a cost of $387,000) 450,000
Calculate the amount of net cash used in financing activities that will appear on Stout's statement of cash flows for 2018 .
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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