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Santa Fe Company was started on January 1, Year 1, when it acquired $9,000 cash by issuing common stock. During Year 1, the company eamed
Santa Fe Company was started on January 1, Year 1, when it acquired $9,000 cash by issuing common stock. During Year 1, the company eamed cash revenues of $4,500, paid cash expenses of $3,750, and paid a cash dividend of $250. Which of the following is true based on this information? Mutple Choice O The December 31, Year 1 balance sheet would show total equity of $8.750. The Year 1 statement of cash flows would show net cash inflow from operating activities of $4,500 The Year 1 income statement would show net income of $500 The Year 1stetement of cash flows would show a net cash inflow from financina ectivities of S8.750
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