Determining Cash Flows from Financing Activities}

Nichols Inc. reported the following amounts on its statement of financial position at the end of 2018 and 2017 for equity:

\section*{Required:}
Assume that Nichols did not repurchase any shares during 2018 , that it reported \(\$ 92,630\) of net income for 2018, and that any dividends declared were paid in cash. Determine the amounts Nichols would report in the financing section of the statement of cash flows.
\section*{Exercise

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12/31/2018 12/31/2017 Common shares $164,000 $105,000 Retained earnings 455.490 376,750