Calculate the net cash flow from financing activities for

Reference no: EM13588328

The following selected account balances were taken from Buckeye Company's general ledger at January 1, 2005 and December 31, 2005:

January 1, 2005       December 31, 2005

Accounts receivable           42,000                36,000
Inventory                           25,000                28,000
Accounts payable               35,000                31,000
Salaries payable                 1,000                 2,000
Investments                       34,000                48,000
Land                                   60,000                80,000
Mortgage payable              100,000                50,000
Common stock                    110,000               130,000
Retained earnings               20,000                38,000

The following information was taken from Buckeye Company's 2005 income statement:

Sales revenue                   $420,000
Cost of goods sold               300,000
Salaries expense                  90,000
Gain on sale of land               2,000
Net income                      $ 32,000

It is known that during 2005 Buckeye Company sold land having a cost of $3,000.

Calculate the net cash flow from financing activities for 2005. If your answer is negative, place a minus sign in front of your answer with no spaces in between (e.g., -1234). Do not use decimals in your answer.

Reference no: EM13588328

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