Use the following information to determine this company's cash flows from financing activities.

Net income was $467,000.

Issued common stock for $74,000 cash.

Paid cash dividend of $13,000.

Paid $120,000 cash to settle a note payable at its $120,000 maturity value.

Paid $120,000 cash to acquire its treasury stock.

Purchased equipment for $90,000 cash.

Question

Business

Duncan Rivas

28 March, 02:49

Use the following information to determine this company's cash flows from financing activities.

Net income was $467,000.

Issued common stock for $74,000 cash.

Paid cash dividend of $13,000.

Paid $120,000 cash to settle a note payable at its $120,000 maturity value.

Paid $120,000 cash to acquire its treasury stock.

Purchased equipment for $90,000 cash.

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Answers (1)

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Clare Barnes · Answer 1

See the explanation below.

Explanation:

Details Amount ($)

Issued common stock 74,000

Dividend paid (13,000)

Settlement of note payable (120,000)

Treasury stock acquired (120,000)

Net cash flows from financing activities (179,000)