Consider the following events: 25,000 shares of preferred stock, cumulative, 5%, $10 par was issued for $15 a share. the annual cash dividend was declared and paid to the above preferred stock. the company purchased 12,000 shares of common stock at $17 per share to be held as treasury stock. interest of $8,000 was paid to bondholders. bonds payable with a par value of $100,000 were retired at $108,000.compute the net cash flow from financing activities (parentheses indicate an outflow): a) $ 58,500b) $(71,500)c) $ 50,500d) $ 45,500

Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u.s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u.s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u.s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u.s. gaap balances to ifrs.