Reference no: EM133156717
Question - In preparing its cash flow statement for the year ended December 31, 2021, Red Co. gathered the following data:
Gain on sale of land $12,000
Proceeds from sale of land 20,000
Purchase of Blue, Inc., bonds (face value $200,000) 360,000
Amortization of bond discount 4,000
Cash dividends declared 90,000
Cash dividends paid 76,000
Proceeds from sales of Red Co. common stock 150,000
In its December 31, 2021, statement of cash flows, what amount should Red report as net cash outflows from investing activities?