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Washington Company is preparing its statement of cash flows using the indirect method. Refer to the following portion of the comparative balance sheet: Washington Company
Washington Company is preparing its statement of cash flows using the indirect method. Refer to the following portion of the comparative balance sheet: Washington Company Comparative Balance Sheet December 31, 2019 and 2018 Accounts Payable Accrued Liabilities Long -term Notes Payable Total Liabilities 2019 $7,000 2,500 58,000 $67,500 2018 $6,000 1,200 66,000 $73,200 Increased (Decrease) $1,000 1,300 (8,000) $(5,700) Additional information provided by the company includes the following: 1. During 2019, the company repaid $37,000 of long-term notes payable. 2. During 2019, the company borrowed $29,000 on a new long-term 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? A. $(8,000) B. $8,000 C. $66,000 D. $(66,000)
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