Blair Madison Co. issues $2.8 million of new stock and pays $371,000 in cash dividends...
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Blair Madison Co. issues $2.8 million of new stock and pays $371,000 in cash dividends during the year. In addition, the company took advantage of falling interest rates to borrow $1.68 million in a new bond issue and paid off existing bonds with a face value of $2.90 million. The company bought 518 of another company's $1,180 bonds at a $118,000 premium. The net cash flow provided by financing activities is:
Multiple Choice
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An outflow of $118,000.
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An outflow of $371,000.
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An inflow of $1,209,000.
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An inflow of $1,220,000.
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