Tang Corporation, which follows IFRS and chooses to classify dividends paid as financing activities and interest paid as operating activities on the statement of cash flows, had the following activities in 2020.
1. Paid $870,000 of accounts payable.
2. Paid $12,000 of bank loan interest.
3. Issued common shares for $200,000.
4. Paid $170,000 in dividends (charged to retained earnings).
5. Collected $150,000 in notes receivable.
6. Issued $410,000 of bonds payable.
7. Paid $20,000 on bank loan principal.
8. Issued a stock dividend in the amount of $11,000.
9. Received $5,000 in interest from an investment in bonds.
10. Purchased the corporation’s own shares at a cost of $47,000.
Calculate the amount that Tang should report as net cash provided (used) by financing activities in its 2020 statement of cash flows.
