Net cash used in financing activities

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Reference no: EM13129885

During Year 2, Xan, Inc. had the following activities related to its financial operations:

Payment for the early retirement of long-term bonds payable (carrying amount $370,000) $375,000

Distribution in Year 2 of cash dividend declared in Year 1 to preferred shareholders $32,000

Carrying amount of convertible preferred stock in Xan, converted into common shares $60,000

Proceeds from sale of treasury stock (carrying amount at cost, $43,000) $60,000

In Xan's Year 2 statement of cash flows, net cash used in financing activities should be:

a) $265,000

b) $296,000

c) $356,000

d) $456,000

e) $347,000

Reference no: EM13129885

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