Determining Cash Flows from Financing Activities Nichols Inc. reported the following amounts on its balance sheet for equity: Common stock Retained earnings Jan. 1 $135,000 412,800 Payment of dividends Issuance of common stock Dec. 31 Required: Assume that, for the current year, Nichols did not retire any stock, it reported $105,610 of net income for declared were paid in cash. Determine the amounts Nichols would report in the financing section of the st $210,000 495,300 LA VA

Determining Cash Flows from Financing Activities Nichols Inc, reported the following amounts on its balance sheet for equity: Required: Assume that, for the current year, Nichols did not retire any stock, it reported $105,610 of net income for declared were paid in cash. Determine the amounts Nichols would report in the financing section of the st 1