The balance sheet data of Naley Company at the end of 2019 and 2018 follow: 2019 2018 Cash $ 50,000 $ 70,000 Accounts receivable (net) 120,000 90,000 Merchandise inventory 140,000 90,000 Prepaid expenses 20,000 50,000 Buildings and equipment 180,000 150,000 Accumulated depreciation—buildings and equipment (36,000) (16,000) Land 180,000 80,000 Totals $654,000 $514,000 Accounts payable $136,000 $110,000 Accrued expenses 24,000 36,000 Notes payable—bank, long-term 80,000 Mortgage payable 60,000 Common stock, $10 par 418,000 318,000 Retained earnings (deficit) 16,000 (30,000) $654,000 $514,000 Land was acquired for $100,000 in exchange for common stock, par $100,000, during the year; all equipment purchased was for cash. Equipment costing $10,000 was sold for $4,000; book value of the equipment was $8,000 and the loss was reported as an ordinary item in net income. Cash dividends of $20,000 were charged to retained earnings and paid during the year; the transfer of net income to retained earnings was the only other entry in the Retained Earnings account. For the year ending December 31, 2019, calculate the following amounts:

a) The net cash provided (used) by operating activities

b) The net cash provided (used) by investing activities

c) The net cash provided (used) by financing activities

Answer rating: 100% (QA)

Cash Flow Statement Opening Balance 70000 Cash flow from Operating Activities 56000 Net profit 66000 ... View the full answer