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Assume the following excerpts from a companys balance sheet: Beginning BalanceEnding BalanceBonds payable$ 500,000$ 600,000Common stock$ 900,000$ 900,000Retained earnings$ 375,000$ 443,000 During the year, the
Assume the following excerpts from a companys balance sheet:
Beginning BalanceEnding BalanceBonds payable$ 500,000$ 600,000Common stock$ 900,000$ 900,000Retained earnings$ 375,000$ 443,000
During the year, the company did not retire any bonds or issue or repurchase any common stock. If the companys net income for the year was $110,000, then its net cash provided by (used in) financing activities would be:
Multiple Choice
$142,000.
$(142,000).
$58,000.
$(58,000).
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