Calculate its net cash flow from financing activities

Reference no: EM133656044

Question

The Right Angle Company has derived the following information from its 2022 income statement and its 2021 and 2022 comparative balance sheet. Land was sold for $80,000 (no gain) in 2022. It used cash to purchase a building in 2022 for $50,000. It sold a long-term investment in 2022 and received a net of $35,000. It paid cash dividends in 2022 of $20,000 (but had no previous dividends payable) and issued a long-term note payable for $150,000 for the purchase of machinery in 2022. Calculate its net cash flow from financing activities for 2022.

Reference no: EM133656044

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