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Packard Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.) 1) Acquired $1,050 cash
Packard Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.) 1) Acquired $1,050 cash from the issue of common stock. 2) Borrowed $520 from a bank. 3) Earned $700 of revenues cash. 4) Paid expenses of $270. 5) Paid a $70 dividend. During Year 2, Packard engaged in the following transactions. (Assume all transactions are cash transactions.) 1) Issued an additional $425 of common stock. 2) Repaid $290 of its debt to the bank. 3) Earned revenues of $850 cash. 4) Incurred expenses of $400. 5) Paid dividends of $120. What is the amount of Packard Company's net cash flow from financing activities for Year 2? Multiple Choice Net inflow of $15. Net inflow of $305. Net outflow of $410. Net outflow of $290
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