Rowe Furniture Corporation is a Virginia-based manufacturer of furniture. In a r

Question

Rowe Furniture Corporation is a Virginia-based manufacturer of furniture. In a recent quarter, it reported the following activities Net income Purchase of equipment Borrowings under line of credit (bank) Proceeds from issuance of common stock Cash received from customers Payments to reduce notes payable (long-term) Sale of investments Proceeds from sale of equipment Dividends paid Interest paid $ 4,235 881 1,427 12 29,264 47 135 6,694 278 91 Required: Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement.(Amounts to be deducted should be indicated with a minus sign.) ROWE FURNITURE CORPORATION Statement of Cash Flows (Partial) Cash Flows from Investing Activities Cash Flows from Financing Activities

Explanation / Answer

STATEMENT OF CASH FLOWS(PARTIAL) Cashflows from Investing Activities: Purchase of Equipment -881 Sale of Investment 135 Proceed from sale of Equipment 6694 Net cash provided from Investing Activities 5948 Cashflows from Financing Activities: Dividend paid -278 Interest paid -91 payment to rerduce long term notes payable -47 Proceeds from issuance of Common Stock 12 Net cash used in Financing Activities -404 Note: Borrowing under line of Credit is not a long term liability, is a part of operating assets.

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