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1. Ophelia Ltd. reported retained earnings at December 31, 20x6 of $267,000, and at December 31, 20x7, $213,000. Net income for calendar 20x7 was $174,000. During 20x7, a stock dividend was declared and distributed, which increased the common shares account by $117,000. As well, a cash dividend was declared and paid during the year. 

Given the information provided, what would be the amount of the cash dividend declared and paid ?

2. Selected information from Cordelia Corp.'s 20x7 accounting records is as follows: Cordelia adheres to ASPE.

Proceeds from issuance of common shares	$350,000
Proceeds from issuance of bonds	1,140,000
Cash dividends paid on common shares	145,000
Cash dividends paid on preferred shares	47,000
Purchase of FV-NI investment	105,000
Sale of shares to officers and employees	93,000

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2. Calculate the cash provided by financing activities during 20x7.

3. Ross Corp.'s transactions for calendar 20x7 included the following:

1. Acquired 50% of Lennox Ltd.'s common shares for $80,000 cash.
2. Issued 4,500 preferred shares in exchange for land with a fair value of $156,000.
3. Issued 11% bonds, par value $200,000, for $191,000 cash.
4. Purchased a patent for $102,000 cash.
5. Borrowed $94,000 from Bank A.
6. Paid $58,000 toward a bank loan with Bank B.
7. Sold long-term investments for $393,000 cash.

What was the cash provided by (used in) financing activities for 20x7 ?

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