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Madison Company reported the following information: Notes payable Common stock Retained earnings 12/31/2019 12/31/2018 $95,000 $75,000 120,000 20,000 80,000 36,000 Madison reported net income
Madison Company reported the following information: Notes payable Common stock Retained earnings 12/31/2019 12/31/2018 $95,000 $75,000 120,000 20,000 80,000 36,000 Madison reported net income of $21,000 for the year ended December 31, 2019. In addition, Madison repaid $53,000 of the notes payable during 2019. Required: Compute net cash flow from financing activities. Use a minus sign to indicate negative cash flows (outflows).
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