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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
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 | 20X2 | |
Bonds payable | $ | 255,000 |
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. $fill in the blank 1
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