Antaska Corp Had the Following Activities During the Year What Was Antaska's Cash Flow from Financing Activities for the

question 31

Multiple Choice

Antaska Corp had the following activities during the year: $$\begin{array} { | l | r | } \hline \text { Proceeds from the sale of land } & \$ 300,000 \\\hline \text { Gain on sale of land } & \$ 50,000 \\\hline \text { Proceeds from the issue of common shares } & \$ 1,000,000 \\\hline \text { Declaration of 10\% stock dividend } & \$ 450,000 \\\hline \text { Repayment of mortgage outstanding on the sold land } & \$ 200,000 \\\hline \text { Granted stock options to employees } & \$ 50,000 \\\hline \text { Interest paid } & \$ 22,500 \\\hline \text { Dividends paid } & \$ 10,000 \\\hline\end{array}$$
What was Antaska's cash flow from financing activities for the year?

• A) $767,500 inflow
• B) $790,000 inflow
• C) $800,000 inflow
• D) $740,000 inflow

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Definitions:

Operating Loss Carryforward

A tax provision that allows businesses to apply current year operating losses against future profits to reduce tax liability.

Deferred Liability

A liability that is recognized on the balance sheet but will be settled at some point in the future.

Tax Benefit

A tax policy that allows certain deductions, credits, or exclusions that ultimately reduce a taxpayer's burden, improving financial efficiency.

Operating Loss Carryforward

A tax provision that allows businesses to apply current year's operating losses to future profits for tax relief.