Question
Florida Chemicals Company uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balancesheet: Florida Chemicals
Florida Chemicals Company uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balancesheet:
Florida Chemicals Company
Comparative Balance Sheet
December31, 2024 and 2023
2024
2023
Increase/(Decrease)
Common Stock
$31,000
$2,400
$28,600
Retained Earnings
155,000
151,000
4,000
Treasury Stock
(8,300)
(5,500)
(2,800)
Total Equity
$177,700
$147,900
$29,800
Net Income for the year was $56,000.
Which of the following statements is true of Florida ChemicalsCompany's statement of cash flows for2024?
A.
The company declared $52,000 as dividends.
B.
The net cash flow from financing activities is $177,700.
C.
The company purchased treasury stock for $8,300.
D.
The company issued stocks for $31,000.
Click to select your answer.
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Financial And Managerial Accounting
Authors: Jan R. Williams, Joseph V. Carcello, Mark S. Bettner, Sue Haka, Susan F. Haka
14th International Edition
0071101217, 9780071101219
