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Below is selected information for Sarasota Inc. for December 31. During 2018, a new mortgage loan for $70,000 was received and principal payments of $6,000
Below is selected information for Sarasota Inc. for December 31. During 2018, a new mortgage loan for $70,000 was received and principal payments of $6,000 were made throughout the year. Net income was $90,000 and dividends declared were fully paid in 2018. Mortgage payable Common Shares Retained Earnings 2018 $189,000 120,000 135,000 2017 $125,000 75,000 60,000 Prepare the financing activity section of the statement of cash flows for the year ended December 31, 2018. (Show amounts that decrease cash flow with either a - sign e.g. -45,000 or in parenthesis e.g. (45,000).) SARASOTA INC. Statement of Cash Flows (Partial) Cash flows from financing activities Net cash by financing activities $
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