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Net income was $469,000.
Issued common stock for $71,000 cash.
Paid cash dividend of $13,000.
Paid $120,000 cash to settle a note payable at its $120,000 maturity value.
Paid $123,000 cash to acquire its treasury stock.
Purchased equipment for $93,000 cash.
Use the above information to determine this company's cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.)

Respuesta :

Answer:

$185,000

Explanation:

The computation of the cash flow from financing activities is shown below:

Cash flows from financing activities:

Common stock issuance $71,000

Less:

Cash dividends paid -$13,000

Payment of note payable -$120,000

Purchase of treasury stock -$123,000

Net cash flows used by financing activities ($185,000)

We simply applied the above format to determine the cash flow used by financing activities

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