QUESTION 31 XYZ Company had a year-end December 31, 20X6 retained earnings account balance in its statement of financial position of $600,000. During 20X6, XYZ Company had net income for the year of $240,000 and declared dividends of $200,000. Of the $200,000 in declared dividends, $150,000 was paid during 20X6 and the remaining $50,000 was paid in January, 20X7. XYZ Company's December 31, 20X6 cash balance was $90,000. What was XYZ Company's retained camnings account balance on January 1, 20X6? a $560,000 b.$160,000 c. $1,040,000. Od 5440,000 QUESTION 32 Under U.S. generally accepted accounting principles, the Statement of Cash Flows contains of all the following cash flow classifications except a investing activities. b. nonoperating activities. Oc financing activities. d. operating activities Question Completion Status Which of the following sections of the Statement of Cash Flows reports cash provided or used in the sale (or purchase) of long-term investments in stocks, bonds, or loans receivable for example), and cash provided in the sale (or purchase) of property plant and equipment? a investing activities. b. nonoperating activities. c. financing activities Od operating activities QUESTION 34 Which of the following sections of the Statement of Cash Flows reports cash provided or used as a result of the issuance (or repurchase) of the company's own bonds or stock, and cash used to pay dividends to shareholders? a investing activities. b. nonoperating activities e financing activities d. operating activities