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Allied Corporation had the following transactions during 2017: 1. Issued $250,000 of par value common...

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Accounting

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Allied Corporation had the following transactions during 2017: 1. Issued $250,000 of par value common stock for cash. 2. Recorded and paid wages expense of $120,000. 3. Acquired land by issuing common stock of par value $100,000. 4. Declared and paid a cas\$ dividend of $20,000. 5. Sold a long-term investment (cost $6,000 ) for cash of $6,000. 6. Recorded cash sales of $800,000. 7. Bought inventory for cash of $320,000. 8. Acquired an investment in Zynga stock for cash of $42,000. 9. Converted bonds payable to common stock in the amount of $1,000,000. 10. Repaid a 6-year note payable in the amount of $440,000. What is the net cash provided by operating activities? What is the net cash provided by operating activities? $610,000 $360,000 $480,000 $580,000

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