Use This Information to Answer the Following Question

question 111

Multiple Choice

Use this information to answer the following question. Northbrook Corporation is preparing a statement of cash flows.The following transactions occurred during the year:
1) Sold machinery for $9,000 cash.
2) Purchased a building for $80,000 cash.
3) Issued $70,000 worth of stock to acquire an airplane.
4) Converted long-term bonds by issuing $100,000 worth of stock.
5) Declared and paid a $10,000 cash dividend.
-Transaction 5 would be found on the statement of cash flows in the

• A)noncash investing and financing transactions section.
• B)cash flows from financing activities section.
• C)cash flows from operating activities section.
• D)cash flows from investing activities section.

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