On January $1,$ Year $1,$ Campbell Company had a balance of $$114,500$ in its Common Stock account. During Year $1,$ Campbell paid

$$11,900$ to purchase treasury stock. Treasury stock is accounted for using the cost method. The balance in the Common Stock account

on December $31,$ Year $1,$ was $$135,500.$ Assume that the common stock is no par stock.

Required

a$.$ Determine the cash inflow from the issue of common stock.

b$.$ Prepare the financing activities section of the Year $1$ statement of cash flows.

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Determine the cash inflow from the issue of common stock.On January $1,$ Year $1,$ Campbell Company had a balance of $$114,500$ in its Common Stock account. During Year $1,$ Campbell paid $$11,900$ to purchase treasury stock. Treasury stock is accounted for using the cost method. The balance in the Common Stock account on December $31,$ Year $1,$ was $$135,500.$ Assume that the common stock is no par stock.

Required

Determine the cash inflow from the issue of common stock.

Prepare the financing activities section of the Year $1$ statement of cash flows.