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What is the net cash provided by financing activities

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Question - Facebook Corporation had the following items during 2022:

1. Issued stock for cash $250,000.

2. Depreciation expense during the year amounted to $120,000.

3. Purchased land in exchange for stock valued at $100,000.

4. Paid a cash dividend of $20,000.

5. Increase in accounts receivable of $6,000.

6. Recorded cash sales of $800,000 during the year.

7. Decrease in inventory of $320,000.

8. Purchased a building for cash of $42,000.

9. Converted bonds payable to common stock valued at $1,000,000.

10. Repaid a 6-year note payable in the amount of $440,000.

Required - What is the net cash provided by financing activities?

Reference no: EM133043266

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