Hoffman Enterprises engaged in the following activities during the year Borrowed $25,000 from South World Bank Declared and paid dividends on common stock of $27,000 Declared preferred stock dividends of $10,000 Repaid the $25,000 loan from South World Bank Borrowed $70,000 from City Financial Grou...

Cash flows from financing activities Loan proceeds 95000 a Common stock cash div ...

Hoffman Enterprises engaged in the following activities during the year: Borrowed $25,000 from South World Bank

Question:

Hoffman Enterprises engaged in the following activities during the year:
• Borrowed $25,000 from South World Bank
• Declared and paid dividends on of $27,000
• Declared preferred stock dividends of $10,000
• Repaid the $25,000 loan from South World Bank
• Borrowed $70,000 from City Financial Group
Required
Prepare the cash flows provided by financing activities section of Hoffman Enterprises' statement of cash flows.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...