Reference no: EM131767580

Problem - Given

Dec. 31, 2009

Gain on sale of land $12,000

Proceeds from sale of land $20,000

purchase of 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 sale of common stock

(carrying value $130,000) $150,000

In its Dec. 31, 2009 statement of cash flows, what amount should they report as net cash from financing activities?

a. 40,000

b. 54,000

c. 60,000

d. 74,000