Determining Cash Flows from Financing Activities

Nichols Inc. reported the following amounts on its statement of financial position at the end of 2018 and 2017 for equity:

	12/31/2018		12/31/2017
Common shares	$162,000		$105,000
Retained earnings	455,490		376,750

Required:

Assume that Nichols did not retire any shares during 2018, that it reported $97,500 of net income for 2018, and that any dividends declared were paid in cash. Determine the amounts Nichols would report in the financing section of the statement of cash flows.

Issuance of common shares	$
Payment of cash dividends	$