BE 13.6 Texas, Inc., sold common stock for $ 560,000 and preferred stock for $ 36,000 during the cur-rent year.

BE 13.6Texas, Inc., sold common stock for $ 560,000 and preferred stock for $ 36,000 during the cur-rent year. In addition, the company purchased treasury stock for $ 35,000 and paid dividends on common and preferred stock for $ 24,000. Determine the amount of cash provided by or used for financing activities during the year.

AnswerCash from financing ActivitiesParticularsSold Common stockSold preferred stock(-) Purchase of treasurystock(-) payment of dividendCash from financingActivities Details $560,000...