The following information on selected cash transactions for 2021 has been provided by Waterway Industries: Proceeds from sale of land $313000 Proceeds from long-term borrowings 610000 Purchases of plant assets 217000 Purchases of inventories 1017000 Proceeds from sale of Waterway common stock 352000 What is the cash provided (used) by investing activities for the year ended December 31, 2021, as a result of the above information

Waterway Industries

The cash provided (used) by investing activities for the year ended December 31, 2021, as a result of the above information is:

= $96,000

Explanation:

a) Data and Calculations:

Proceeds from sale of land $313000

Proceeds from long-term borrowings 610000

Purchases of plant assets 217000

Purchases of inventories 1017000

Proceeds from sale of Waterway common stock 352000

Operating activities:

Purchases of inventories 1017000

Investing activities:

Proceeds from sale of land $313000

Purchases of plant assets     217000

Total cash from investing   $96,000

Financing activities:

Proceeds from long-term borrowings 610000

Proceeds from sale of Waterway common stock 352000

b) Investing activities are one of the main categories of net cash activities on the statement of cash flows.  They refer to the purchase and sale of long-term assets and other business investments.

answer; situational irony;