Question
Cash Flows from Financing Activities Murray Company earned net income of $450,000 in 20X2. Murray provided the following information: Murray Company Comparative Balance Sheets
Cash Flows from Financing Activities Murray Company earned net income of $450,000 in 20X2. Murray provided the following information: Murray Company Comparative Balance Sheets At December 31, 20X1 and 20X2 20X1 Bonds payable $ - 20X2 275,000 Mortgage payable 50,000 Common stock 187,500 187,500 Paid-in capital in excess of par 140,000 140,000 Retained earnings 912,500 1,162,500 Required: Compute the financing cash flows for the current year. Use a minus sign to indicate a cash outflow.
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