Below are cash transactions for Goldman Incorporated which p

Below are cash transactions for Goldman Incorporated, which provides consulting services related to mining of precious metals.

a. Cash used for purchase of office supplies, $2,000.
b. Cash provided from consulting to customers, $46,600.
c. Cash used for purchase of mining equipment, $75,000.
d. Cash provided from long-term borrowing, $62,000.
e. Cash used for payment of employee salaries, $24,200.
f. Cash used for payment of office rent, $12,200.
g. Cash provided from sale of equipment purchased in c. above, $22,700.
h. Cash used to repay a portion of the long-term borrowing in d. above, $41,000.
i. Cash used to pay office utilities, $4,500.
j. Purchase of company vehicle, paying $10,200 cash and borrowing $15,200.

Required:

Calculate cash flows from financing activities. (List cash outflows as negative amounts.)

Solution

Calculate cash flows from financing activities.