Russell Corporation had the following activities:

•             Recorded depreciation of $5,000.

•             Received cash from the sale of common stock, $20,000.

•             Purchased $10,000 of equipment with cash.

•             Paid $4,000 income tax.

•             Received $8,000 cash for the sale of an asset.

•             Paid cash dividends, $10,000.

What is the amount of net cash flows from (used for) financing activities?

a.            $25,000

b.            $10,000

c.             $(14,000)

d.            None of these choices are correct.

Answer rating: 100% (QA)

Financing activities Statement of cash flows includes operating ... View the full answer