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What is the net cash provided by investing activities

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Reference no: EM133027152

Question - Progressive Corporation had the following transactions during 2022:

1. Issued stock for cash of $300,000.

2. Increase in accounts receivable of $120,000.

3. Acquired land by issuing common stock valued at $1,000,000.

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

5. Sold a small parcel of land for $6,000 (original cost was also $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 investing activities?

Reference no: EM133027152

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