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Changes in the balance sheet accounts at June 30,20X1 and 20X2 for the Poker Company...

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Accounting

Changes in the balance sheet accounts at June $30, 20$ X $1$ and $20$ X $2$ for the Poker Company are presented below:

Increase

$($ Decrease $)$

Assets

Cash $ $480, 000$

Accounts receivable $200, 000$

Inventory $300, 000$

Long $-$ term investments $200, 000$

Equipment $(200, 000)$

Accumulated depreciation $(60, 000)$

Liabilities and Stockholders Equity

Accounts payable $ $(40, 000)$

Dividends payable $400, 000$

Notes payableCurrent $(200, 000)$

Notes payableLong $-$ term $400, 000$

Common stock, $ $1.00$ par $300, 000$

Additional paid $-$ in capital $100, 000$

Retained earnings $80, 000$

Additional Information for $20$ X $2$ :

Net income was $ $480, 000$ and dividends of $ $400, 000$ were declared.

Common stock was issued for cash.

A new long $-$ term investment was acquired for $ $360, 000 .$

A long $-$ term investment was sold for $ $160, 000 .$

Equipment that cost $ $600, 000$ was sold for $ $200, 000 .$ The book value of those assets was $ $150, 000 .$

The cash flow from investing activities for $20$ X $2$ is a:

Multiple Choice

$ $200, 000$ outflow.

$ $400, 000$ inflow.

$ $400, 000$ outflow.

$ $600, 000$ inflow.

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