Business, 17.03.2020 04:36, angelicadattoli
During 2018, Stout Inc. had the following activities related to its financial operations:
Carrying value of convertible preferred stock in Stout,
converted into common shares of Stout $ 540,000
Payment in 2018 of cash dividend declared in 2017 to
preferred shareholders 279,000
Payment for the early retirement of long-term bonds payable
(carrying amount $3,930,000) 3,975,000
Proceeds from the sale of treasury stock (on books at cost of $387,000) 450,000
The amount of net cash used in financing activities to appear in Stout's statement of cash flows for 2018 should be
A) $2,985,000.
B) $3,264,000.
C) $3,804,000.
D) $3,822,000.
Answers: 3
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During 2018, Stout Inc. had the following activities related to its financial operations:
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