The following transactions were made by Ruby Inc. last year:
Issuance of common stock $100,000
Dividends paid to the company's stockholders $2,000
Depreciation expense $6,000
Repayment of principal on bonds $40,000
Proceeds from the sale of the company's used equipment $39,000
Purchase of land $230,000
Based solely on the above information, net cash flow from financing activities for the year on the statement of cash flows would be:
a. $150,000 b. $67,000 c.$ 58,000 d. $29,000
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