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Fables Corp
Fables Corp. provided the following information for calendar 2020: Fables adheres to ASPE.
Proceeds from issuing bonds...........................$300,000
Purchase of inventories...................................570,000
Purchase of treasury shares...........................90,000
Purchase of long-term investment..................420,000
Dividends paid to preferred shareholders......60,000
Proceeds from issuing preferred shares.........240,000
Proceeds from sale of equipment...................60,000
The cash provided by (used in) investing activities during 2020 is
Expert Solution
Computation of the cash provided by (used in) investing activities during 2020:-
Cash provided used investing activities = Purchase of long-term investment + Proceeds from sale of equipment
= -$420,000 + $60,000
= -$360,000
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