Rowe Furniture Corporation is a Virginia-based manufacturer of furniture. In a r
ID: 2348315 • Letter: R
Question
Rowe Furniture Corporation is a Virginia-based manufacturer of furniture. In a recent quarter, it reported the following activities:Net income $ 4,135
Purchase of property, plant, and equipment 871
Borrowings under line of credit (bank) 1,417
Proceeds from issuance of stock 11
Cash received from customers 29,164
Payments to reduce long-term debt 46
Sale of investments 134
Proceeds from sale of property and equipment 6,594
Dividends paid 277
Interest paid 90
Required:
Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement. (Amounts to be deducted and negative net cash amount should be indicated with minus sign. Omit the "$" sign in your response.)
Cash flows from investing activities:
$
Net cash provided by investing activities $
Cash flows from financing activities:
$
Net cash provided by financing activities $
Explanation / Answer
Cash flows from investing activities:
Purchase of property, plant, and equipment $-871
Sale of investments $134
Proceeds from sale of property and equipment $6,594
Net cash provided by investing activities $5,857
Cash flows from financing activities:
Borrowings under line of credit (bank) $1,417
Proceeds from issuance of stock $11
Payments to reduce long-term debt $-46
Dividends paid $-277
Net cash provided by financing activities $1,105
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