Exercise 12-10 (Algo) Cash flows from financing activities LO P3

Net income was $469,000.

Issued common stock for $70,000 cash.

Paid cash dividend of $15,000.

Paid $120,000 cash to settle a long-term notes payable at its $120,000 maturity value.

Paid $118,000 cash to acquire its treasury stock.

Purchased equipment for $90,000 cash.

Use the above information to determine cash flows from financing activities.

Note: Amounts to be deducted should be indicated with a minus sign.

Exercise 12-10 (Algo) Cash flows from financing activities LO P3 a. Net income was $469,000. b. Issued common stock for $70,000 cash. c. Paid cash dividend of $15,000. d. Paid $120,000 cash to settle a long-term notes payable at its $120,000 maturity value. e. Paid $118,000 cash to acquire its treasury stock. f. Purchased equipment for $90,000 cash. Use the above information to determine cash flows from financing activities. Note: Amounts to be deducted should be indicated with a minus sign