Reference no: EM132463715

The following information is related to Towson Company's fiscal year 2018.

Income Statement:

Net Income                            $3,000,000

Depreciation Expense                   400,000

Loss on Sale of Plant Assets           50,000

Interest Expense                            5,000

Balance Sheet - 12/31/17: Increase (Decrease)

Accounts Payable decrease            25,000

Plant Assets - Purchased             250,000

Plant Assets - Disposals            (100,000)

Additional Information:

Point 1: Common Stock exchanged for outstanding Long Term Notes Payable of $125,000

Point 1: Dividends paid were $30,000

Question 1: Use this information to determine Towson Company's Net Cash Flows from Operating Activities. If the amount is an outflow then enclose the amount with dollar sign inside of brackets