Problem - Given
Dec. 31, 2009
Gain on sale of land $12,000
Proceeds from sale of land $20,000
purchase of bonds(face value $200,000) $360,000
amortization of bond discount $4,000
cash dividends declared $90,000
cash dividends paid $76,000
proceeds from sale of common stock
(carrying value $130,000) $150,000
In its Dec. 31, 2009 statement of cash flows, what amount should they report as net cash from financing activities?
a. 40,000
b. 54,000
c. 60,000
d. 74,000