Joy Elle's Vegetable Market performed the following operations in 2007:

1. Issued $20,000 worth of common stock in exchange for cash.

2. $90,000 recorded and paid wage expense.

3. Purchased land by issuing $50,000 worth of common stock.

4. Declared and paid $1,000 cash dividends.

5. Sold a long-term investment (costs $3,000) for $3,000 in cash.

6. Recorded cash sale of $120,000.

7. Bought inventory for $2,000 in cash.

8. Bought an IBM stock investment for $6,000 in cash.

9. Converted bonds payable in common stock for $10,000.

10. Repaid a 6-year bond payable at $10,000.

What is the net cash from financing activities?

Answer rating: 100% (QA)

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