The following information is for Byrne Dareid Company: 20X2 20X1 Loans Payable $10,000 $20,000 Retained Earnings 85,000
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Question:
The following information is for Byrne Dareid Company:
20X2
20X1
Loans Payable
$10,000
$20,000
Retained Earnings
85,000
78,000
Common Stock
25,000
17,000
Net Income
18,000
20,000
Net cash paid for financing activities
27,000
21,000
Using this information, compute the cash paid to repurchase shares of stock in 20X2.
$19,000
$10,000
$5,000
$14,000
$21,000
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