Takaki Inc. reported net income of $53,000 for 20Y7. The liability and equity accounts from the company’s comparative balance sheet are as follows:

During the year, the company declared dividends of $4,000 and issued 1,000 shares of common stock for $12 per share. Prepare the Cash Flows from (used for) Financing Activities section of the statement of cash flows.

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Dec. 31, 20Y7 Dec. 31, 20Y6 $ 31,900 5,000 Accounts payable Dividends payable Common stock, $5 par value Paid-in capital in excess of par-common stock Retained earnings $28,400 3,000 80,000 37,000 75,000 30,000 130,600 81,600