Exercise 14-12A (Algo) Determining cash flows from financing activities LO 14-4 On Januacy 1, Year 1, Baird Compeny had a balance of $113,500 in its Common Stock account. During Year 1, Baird pald $28,500 to purchase treasuty stock. Treasury stock is accounted for using the cost method. The balance in the Common Stock account on Decembes 31, Yeor 1, was $149,000. Assume that the common stock is no por stock. Required a. Determine the cash inflow from the issue of common stock. b. Prepare the financing octivities section of the Year 1 statement of cash flows. Complete this question by entering your answers in the tabs below. Determine the cash inflow from the issue of common stock. On january 1, Year 1, Baird Company had a balance of $113,500 in its Commen Stock account. During Year 1, Baird paid $28,500 to purchase treasury stock. Treasury stock is accounted for using the cost method. The balance in the Common Stock account on December 31. Year 1, was $149,000. Assume that the common stock is no par stock. Required a. Determine the cash infiow from the issue of common stock b. Prepare the financing activities section of the Year 1 statement of cash flows. Complete this question by entering your answers in the tabs below. Prepare the financing activities section of the Year 1 statement of cash flows Note: Cash ovthaw should be indirated with a minus sign Cash flows from financing activities: Paid for purchase of treasury stock Proceeds from issue of common stock Proceeds from the issue of bond liabilitie Proceeds from the sale of land Repayment of bonds payable Prepare the financing activities section of the Year 1 statement of Note: Cash outflow should be indicated with a minus sign. Prepare the financing activities section of the Year 1 statement of cash flows. Note: Cash outflow should be indicated with a minus sign