No stock was retired No treasury stock was sold During 2014, the company repaired $60,000 of long term notes payable. During 2014, the company borrowed $51,000 on a new long term note payable. Net income for the year was $69,000.

Required: Prepare the financing section of the statement of cash flows and show your calculations.

CBS Inc. uses the indirect method to prepare its statement of cash flows. It has the following balance sheet information