Smiley Corp.'s transactions for the year ended December 31, 2018 included the following:
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Business, 06.05.2020 02:58 SoccerHalo
Smiley Corp.'s transactions for the year ended December 31, 2018 included the following:
Purchased real estate for $1,250,000 cash which was borrowed from a bank.
Sold available-for-sale securities for $1,000,000.
Paid dividends of $1,200,000.
ssued 500 shares of common stock for $500,000.
Purchased machinery and equipment for $250,000 cash.
Paid $900,000 toward a bank loan.
Reduced accounts receivable by $200,000.
Increased accounts payable $400,000.
Smiley's net cash used in financing activities for 2018 was
a. $450,000.
b. $350,000.
c $900,000.
d. $850,000.
Answers: 2
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