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  1. business
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  3. 1. value: 2.00 points during the current year, bra

1. value: 2.00 points During the current year, Bradford Company purchased some of the 90,000...

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Accounting

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1. value: 2.00 points During the current year, Bradford Company purchased some of the 90,000 shares of common stock, par $8, of Hall, Inc., as a long- term investment. The annual accounting period for each company ends December 31. The following transactions occurred during the current year: Jan. 7 Purchased 37,800 shares of Hall stock at $30 per share. Dec. 31 a. Received the current year financial statements of Hall, which reported net income of $222,000. b. Hall declared and paid a cash dividend of $1.80 per share. c. Determined that the current market price of Hall stock was $41 per share. Required Indicate how the Operating Activities and Investing Activities sections of the cash flow statement (indirect method) will be affected by each transaction. (Cash outflows should be indicated by a minus sign.) BRADFORD COMPANY Statement of Cash Flows (Partial) For the Year Ended December 31, Current Year Operating activities: Dividends received from affiliates Investing activities

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