Brief Exercise 11-31 (Algorithmic) Determining Net Cash Flow from Financing Activities Madison Company reported the following information: 12/31/2019 12/31/2018 Notes payable Common stock $95,000 120,000 20,000 $75,000 80,000 Retained earnings 36,000 Madison reported net income of $38,000 for the year ended December 31, 2019. In addition, Madison repaid $28,000 of the notes payable during 2019. Required: Compute net cash flow from financing activities. Use a minus sign to indicate negative cash flows (outflows). 40,000 X