Question
Print Item Financing Activities on the Statement of Cash Flows Cosmat Inc. reported net income of $128,000 for 2019. The liability and equity accounts
Print Item Financing Activities on the Statement of Cash Flows Cosmat Inc. reported net income of $128,000 for 2019. The liability and equity accounts from the company's comparative balance sheet are as follows: Dec. 31, 2019 Dec. 31, 20Y8 Accounts payable Dividends payable Bonds payable $57,920 $53,810 20,000 16,000 290,000 450,000 Common stock, $10 par value 180,000 120,000 Paid-in capital in excess of par-common stock) 328,000 232,000 Retained earnings 488,000 375,000 During the year, the company retired bonds payable at their face amount, declared dividends of $15,000, and issued 6,000 shares of common stock for $26 per share. Prepare the Cash Flows from (used for) Financing Activities section of the statement of cash flows. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Cosmat Inc. Statement of Cash Flows (partial) Cash flows from (used for) financing activities: Cash received from issuing common stock Cash paid to retire bonds payable Cash dividends Net cash flows used for financing activities Feedback Chark My Www.
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