Exercise 11-44 (Algorithmic) Determining Cash Flows from Financing Activities

Nichols Inc. reported the following amounts on its balance sheet at the end of 2019 and 2018 for equity:

	12/31/2019		12/31/2018
Common stock	$164,000		$105,000
Retained earnings	455,490		376,750

Required:

Assume that Nichols did not retire any stock during 2019, it reported $86,100 of net income for 2019, and 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 stock
Payment of cash dividends