The following financial information is available for Ligutti Company:
20X3 20X2
Cash a...
The following financial information is available for Ligutti Company:
20X3 20X2
Cash and cash equivalents $ 18,000 $15,000
Accounts receivable 25,000 22,000
Buildings 108,000 45,000
Accumulated depreciation (20,000) (16,000)
Land 10,000 40,000
$141,000 $106,000
Accounts payable $ 31,000 $22,000
Long-term notes payable 50,000 20,000
Common stock 30,000 50,000
Retained earnings 30,000 14,000
$141,000 $106,000
Additional information:
Net income for 20X3 was $25,000.
No buildings were sold during 20X3.
Dividends declared during the year were paid in cash during the year.
All building purchases made during 20X3 were made with cash.
What was the net cash provided by (used in) financing activities?
-$20,000
$10,000
-$29,000
$41,000
none of these
Answers: 2
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