Financing activities Retirement of long-term debt Proceeds from long-term debt sales Change in notes payable Dividends Repurchase of stock Proceeds from new stock issue Total cash flow from financing activities Change in cash (on balance sheet) -$150 115 8 -81 -11 43 -$ 76 $ 37 25. Net Fixed Assets and Depreciation On the balance sheet, the net fixed assets (NFA) account is equal to the gross fixed assets (FA) account, which records the acquisition cost of fixed assets, minus the accumulated depreciation (AD) account, which records the total depreciation taken by the firm against its fixed assets. Using the fact that NFA = FA - AD, show that the expression given in the chapter for net capital spending, NFAend - NFAheg +D (where D is the depreciation expense during the year), is equivalent to FAend - FAbeg. 26 Toy Dator