Question

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.

Answer 1

See the explanation below.

Step-by-step 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)