P9-78. Calculate investing and financing cash flows. (LO 6)
To prepare its statement of cash flows for the year ended December 31, 2001, Tango Company gathered the following information.
| Proceeds from bank loan | 157,000 |
| Gain on sale of equipment | 12,500 |
| Proceeds from sale of equipment | 35,000 |
| Proceeds from sale of common stock | 100,000 |
| Dividends paid | t2,400 |
| Purchase of treasury stock | 85,000 |
Required
a. Prepare the cash from investing section of the statement of cash flows.
b. Prepare the cash from financing section of the statement of cash flows.
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