Reference no: EM132801349
Question - Ladybug Company has provided the following information for the year ended December 31, 2019:
Cash paid for interest, $20,000.
Cash paid for dividends, $6,000.
Cash dividends received, $4,000.
Cash proceeds from bank loan, $29,000.
Cash purchase of treasury stock, $11,000.
Cash paid for equipment purchase, $27,000.
Cash received from issuance of common stock, $37,000.
Cash received from sale of land with a $32,000 book value, $25,000.
Acquisition of land costing $51,000 in exchange for preferred stock issuance.
Payment of a $100,000 note payable by exchanging used machinery with a $77,000 book value and $100,000 fair value.
Required - How much was Ladybug's net cash flow from financing activities under US GAAP?
a. A net outflow of $51,000
b. A net inflow of $49,000
c. A net inflow of $29,000
d. A net outflow of $53,000