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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 30,20X1 and 20X2 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 20X2:
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 20X2 is a:
Multiple Choice
$200,000 outflow.
$400,000 inflow.
$400,000 outflow.
$600,000 inflow.

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