This problem should be solved using the following data:

Cash payments for interest ............$(12)

Retirement of common stock ............ (32)

Cash payments to merchandise suppliers ........ (85)

Purchase of land ................. (8)

Sale of equipment ................ 30

Payments of dividends .............. (37)

Cash payment for salaries ............. (35)

Cash collection from customers .......... 260

Purchase of equipment .............. (40)

a. What are cash flows from operating activities?

b. Using the data above, calculate cash flows from investing activities.

c. Using the data above, calculate cash flows from financing activities.