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12:10 il 3G 18. Avatar Company uses the indirect method to prepare its statement of cash flows. Please refer to the following sections of the
12:10 il 3G 18. Avatar Company uses the indirect method to prepare its statement of cash flows. Please refer to the following sections of the comparative balance sheet provided below. Calculate the net Cash flow from financing activities amount. * Accounts payable Accrued liabilities Long-term notes payable Total liabilities 2014 2013 $ 4.000 $ 6,000 2.000 1.000 84.000 90.000 $ 90,000 $97.000 Common stock Retained earnings Treasury stock Total equity 30,000 2.000 113.000 74.000 (8,000) (5.000) $135.000 $ 71,000 Total liabilities and equity $225.000 $168.000 Additional information: No stock was retired. No treasury stock was sold. During 2014, the company repaid $40,000 of long-term notes payable. During 2014, the company borrowed $34,000 on a new note payable. Net income for the year was $49,000. $ 7,000 $ 8,000 $ 9,000 $ 10,000 None of the above 19. Selling fixed assets is classified in the cash flow otato
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