In preparing its cash flow statement for the year ended December 31, 20x4, Giant Corporation collected the following data:
In its December 31, 20x4, statement of cash flows, under U.S. GAAP, what amounts should Giant report as net cash used in investing activities and net cash used in financing activities?
Gain on sale of equipment $6,000 Proceeds from sale of equipment 10,000 Purchase of Zip Co. bonds for 180,000 (maturity value $200,000) Amortization of bond discount 2,000 Dividends paid (75,000) Proceeds from sale of Treasury stock 38,000
| Investing Activities | Financing Activities |
| $170,000 | -$38,000 |
| $170,000 | $37,000 |
| $178,000 | -$37,000 |
