Accounting

Question 27 1 pts The following information was taken from the 2021 financial statements of Elise Corporation: Account Dec. 31, 2020 Dec 31, 2021 Dividends payable $ 80,000 $ 20,000 Retained earnings 400,000 550,000 Elise Inc. reported net income of $310,000 in 2021. Based on this information, what is the effect on the financing activities section of the statement of cash flows? Cash outflow of $100,000 Cash outflow of $60,000 Cash outflow of $220,000 Cash outflow of $160,000 None of the other suggested solutions are correct