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Lexington Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.) 1) Acquired $3,700 cash
Lexington Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.) 1) Acquired $3,700 cash from issuing common stock. 2) Borrowed $2,550 from a bank. 3) Earned $3,450 of revenues. 4) Incurred $2,470 in expenses. 5) Paid dividends of $470. Lexington Company engaged in the following transactions during Year 2: 1) Acquired an additional $850 cash from the issue of common stock. 2) Repaid $1,545 of its debt to the bank. 3) Earned revenues, $4,850. 4) Incurred expenses of $2,890. 5) Paid dividends of $1,060. What is the net cash flow from financing activities on Lexington's statement of cash flows for Year 2? Multiple Choice $210 outflow O $210 outflow O $1,755 inflow $1,755 outflow $850 inflow
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