Question
Tritan Company is preparing its statement of cash flows using the indirect method. Refer to the following portion of the comparative balance sheet: Tritan Company
Tritan Company is preparing its statement of cash flows using the indirect method. Refer to the following portion of the comparative balance sheet:
Tritan Company Comparative Balance Sheet December 31, 2017 and 2016 2016 2015 Increase/(Decrease) Accounts Payable $5,000 $6,000 -$1,000 Accrued Liabilities 4,000 1,100 2,900 Long-term Notes Payable 56,000 66,000 $(10,000) Total Liabilities $65,000 $73,100 $(8,100)
Additional information provided by the company includes the following: 1. During 2016, the company repaid $39,000 of long-term notes payable. 2. During 2016, the company borrowed $29,000 on a new note payable.
Based on the above information only, what amount of net cash flow would be shown in the financing section of the statement of cash flows?
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