Question #2 (16 marks)

Justin Company reported the following information at December 31, 2019:

2019 2018

Dividends payable $ 90 $ 40

Bank loan 1,200 1,000

C/S 1,400 700

R/E 1,200 800

Additional information:

1. The bank loan was increased by additional borrowings of $x to partially finance the acquisition of new equipment that cost $1,100, where x = 80% of the outstanding balance of the loan at the beginning of the current year. The bank loan was decreased by repayments.
2. C/S were issued during the year.
3. Dividends were paid during the year.
4. NI for the year was $840.

Required:

Prepare the financing activities section of Justins statement of cash flows for the year. 2019 is the current year.