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Assume the following excerpts from a companys balance sheet: Beginning Balance Ending Balance Bonds payable $ 500,000 $ 600,000 Common stock $ 900,000 $ 910,000
Assume the following excerpts from a companys balance sheet:
Beginning Balance | Ending Balance | |
---|---|---|
Bonds payable | $ 500,000 | $ 600,000 |
Common stock | $ 900,000 | $ 910,000 |
Retained earnings | $ 375,000 | $ 450,000 |
During the year, the company retired bonds payable of $50,000 and did not repurchase any of its common stock. If the companys net income for the year was $110,000, then the total amount of the cash inflows recorded in the financing activities section of the statement of cash flows would be:
Multiple Choice
$185,000.
$160,000.
$175,000.
$110,000.
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