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Balance Sheet (all $ in thousands) 12/31/20 12/31/19 Cash $725 $575 Accounts receivable 300 370 Prepaid insurance 150 0 Property, plant & equipment 2,100 1,650
Balance Sheet (all $ in thousands) 12/31/20 12/31/19 Cash $725 $575 Accounts receivable 300 370 Prepaid insurance 150 0 Property, plant & equipment 2,100 1,650 Less: Accumulated depreciation (1,000) (725) $2,275 $1,870 Payables for selling & administration expenses 100 170 Interest payable 50 55 Note payable 75 25 Income taxes payable 255 205 Common stock 625 525 Retained earnings 1,170 890 $2,275 $1,870 2020 Income Statement ($ in thousands) Sales revenue $5,000 Depreciation expense 275 Salary Expense 125 Interest expense 5 Selling & administrative expenses 3,595 Income before taxes 1,000 Income tax expense 300 Net income $700 Required: Using the above comparative balance sheets and the income statement, calculate total cash flows from financing activities. $330 -$370 -$270 -$320 $150
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