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Objective 6 CPA 1.2.2, 1.3.1 Madison Company reported the following information: 12/31/2022 Notes payable Common shares Retained earnings $ 95,000 120,000 20,000 12/31/2021 $75,000 80,000

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Objective 6 CPA 1.2.2, 1.3.1 Madison Company reported the following information: 12/31/2022 Notes payable Common shares Retained earnings $ 95,000 120,000 20,000 12/31/2021 $75,000 80,000 36,000 Madison reported net income of $26,000 for the year ended December 31, 2022. In addition, Madison repaid $35,000 of the notes payable during 2022. Required: Compute net cash flow from financing activities, assuming that no common shares were retired during the year and that no share dividends were paid during the year

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