15-29 Algo During 2015, Shorts Company had the following transactions:
A.Purchased $200,700 of 10-year bonds issued by Makenzie Inc.
B.Acquired land valued at $69,200 in exchange for machinery.
C.Sold equipment with original cost of $539,600 for $330,500; accumulated depreciation taken on the equipment to the point of sale was $179,900.
D.Purchased new machinery for $120,500.E.Purchased common stock in Lemmons Company for $56,000.
Required:1.Prepare the net cash from investing activities section of the statement of cash flows.
2.CONCEPTUAL CONNECTION Usually, the net cash from investing activities is negative. How can Shorts cover this negative cash flow? What other information would you like to have to make this decision?
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