Question
Lexington Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.) Acquired $6,000 cash from
Lexington Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.)
Acquired $6,000 cash from issuing common stock. Borrowed $4,400 from a bank. Earned $6,200 of revenues. Incurred $4,800 in expenses. Paid dividends of $800. Lexington Company engaged in the following transactions during Year 2: Acquired an additional $1,000 cash from the issue of common stock. Repaid $2,600 of its debt to the bank. Earned revenues, $9,000. Incurred expenses of $5,500. Paid dividends of $1,280.
What is the net cash flow from financing activities on Lexington's statement of cash flows for Year 2?
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