Reference no: EM132588658

Question - During 2018, Waterway Industries had the following activities related to its financial operations:

Carrying value of convertible preferred stock in Waterway, converted into common shares of Waterway $ 548000

Payment in 2018 of cash dividend declared in 2017 to preferred shareholders 282000

Payment for the early retirement of long-term bonds payable (carrying amount 3932000)

3977000

Proceeds from the sale of treasury stock (on books at cost of $383000) 446000

Find the amount of net cash used in financing activities to appear in Waterway's statement of cash flows for 2018?

a) $2983000.

b) $3265000.

c) $3813000.

d) $3831000.