Financing Cash Flows. Except for the additional data, assume that all other cash flows for the Chiddick Company are normal events.

Events for this year include:
1. Net income was \(\$ 40,000\).
2. \(\$ 23,000\) of Chiddick common stock was swapped to retire long-term debt.
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What financing cash flows will be reported? What other financing transactions might have occurred in these accounts?

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Beginning Ending Long-Term Debt $40,000 $ 33,000 Common Stock.... 40,000 Retained Earnings. 40,000 80,000 35,000