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Net income was $468,000. Issued common stock for $74,000 cash. Paid cash dividend of $13,000. Paid $130,000 cash to settle a long-term notes payable at
- Net income was $468,000.
- Issued common stock for $74,000 cash.
- Paid cash dividend of $13,000.
- Paid $130,000 cash to settle a long-term notes payable at its $130,000 maturity value.
- Paid $116,000 cash to acquire its treasury stock.
- Purchased equipment for $87,000 cash.
Use the above information to determine cash flows from financing activities.
Note: Amounts to be deducted should be indicated with a minus sign.
\begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ Statement of Cash Flows (partial) } \\ \hline Cash flows from financing activities & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular}Step by Step Solution
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