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At the end of 2018, Pendent Publishing had $77 million in cash. During 2019, the following cash flows occurred: Issued debt in the amount of

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At the end of 2018, Pendent Publishing had $77 million in cash. During 2019, the following cash flows occurred: Issued debt in the amount of $223 million. Fixed assets increased by $457 million. Notes payable decreased by $147 million. Issued $195 million in common stock. Net income was $103 million Accounts receivable decreased by $5 million. Inventory increased by $7 million Accounts payable increased by $13 million Depreciation was $27 million Paid dividends in the amount of $27 million. Pendent Publishing had $5 million in cash at the end of 2019. O True False

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