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Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions) Acquired $3,400 cash from
Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions) Acquired $3,400 cash from issuing common stock. Borrowed $2,400 from a bank. Earned $3,300 of revenues. Incurred $2,440 in expenses. Paid dividends of $440. Lexington Company engaged in the following transactions during Year 2: (Assume all transactions are cash transactions) Acquired an additional $700 cash from the issue of common stock. . Repaid $1,440 of its debt to the bank. Earned revenues, $4,700. Incurred expenses of $2,830. Paid dividends of $880. What was the net cash flow from financing activities reported on Lexington's statement of cash flows for Year 2
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