P9-5A. Calculate investing and financing cash flows. (LO 6)
To prepare its statement of cash flows for the year ended December 31, 2008, Myers Company gathered the following information.
| Loss on sale of machinery | $ 8,000 |
| Proceeds from sale of machinery | 50,000 |
| Proceeds from bond issue (face value $100,000) | 80,000 |
| Amortization of bond discount | 1,000 |
| Dividends declared | 25,000 |
| Dividends paid | 15,000 |
| Purchase of treasury stock | 30,000 |
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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