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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 $1,100 cash
Packard Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.)
- 1) Acquired $1,100 cash from the issue of common stock.
- 2) Borrowed $570 from a bank.
- 3) Earned $750 of revenues cash.
- 4) Paid expenses of $280.
- 5) Paid a $80 dividend.
During Year 2, Packard engaged in the following transactions. (Assume all transactions are cash transactions.)
- 1) Issued an additional $475 of common stock.
- 2) Repaid $325 of its debt to the bank.
- 3) Earned revenues of $900 cash.
- 4) Incurred expenses of $420.
- 5) Paid dividends of $130.
What is the amount of Packard Company's net cash flow from financing activities for Year 2?
-
Net outflow of $455.
-
Net outflow of $325.
-
Net inflow of $345.
-
Net inflow of $20.
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