Which change will increase operating cash flow?

Issuing bonds.

Reducing accounts receivable.

Repurchasing shares.

Reducing accounts payable.

ABC Company sold 1 million shares at $25 per share when it first went public. Several years later, its shares were worth $15 per share. What effect will this have on its balance sheet?

Decrease in contributed surplus.

No change.

Decrease in shareholders equity.

Increase in shareholders equity.