Reference no: EM132460129

During Year2, Grace Company had the following transactions related to its financial operations:

Point 1: Paid $750,000 for the retirement of long-term bonds payable. The carrying value of the bonds was $740,000.

Point 2: Distributed a cash dividend $62,200 to preferred shareholders. The dividend was declared in year 1.

Point 3: Paid $13,500 on interest on long-term debt.

Point 4: Declared and distributed a 5% stock dividend. The market value of the shares distributed was $120,000.

Point 5: Sold treasury stock for $95,000 of cash. The cost of the treasury stock was $86,000.

Point 6: Purchased land for $150,000 of cash.

Question problem : Using only the limited information available here, what should be reported as the net source or use of cash from financing activities on the Year 2 statement of cash flows?