Reference no: EM132736820

Anna Maria Island Co. provided the following information on selected transactions during 2017:

Purchase of land by issuing bonds $1,550,000

Proceeds from sale of land 925,000

Proceeds from issuing bonds 1,900,000

Purchases of inventory 2,975,000

Purchases of treasury stock 190,000

Loans made to affiliated corporations 525,000

Dividends paid to preferred stockholders 120,000

Proceeds from issuing preferred stock 325,000

Proceeds from sale of equipment 650,000

Problem 1: The net cash provided by financing activities during 2017 is

Option 1: $1,725,000.

Option 2: $2,040,000.

Option 3: $2,465,000.

Option 4: $1,915,000.