Reference no: EM131290020
1. Refer to the following information for the year 2015:
a. Long-Term Notes Payable, beginning balance, $80,000
b. Long-Term Notes Payable, ending balance, $76,000
c. Common Stock, beginning balance, $3,000
d. Common Stock, ending balance, $26,000
e. Retained Earnings, beginning balance, $75,000
f. Retained Earnings, ending balance, $115,000
g. Treasury Stock, beginning balance, $6,000
h. Treasury Stock, ending balance, $10,000
i. No stock was retired.
j. No treasury stock was sold.
k. During 2014, the company repaid $36,000 of Long-Term Notes Payable.
l. During 2014, the company borrowed $32,000 on a new Note Payable.
m. Net income for the year was $49,000.
n. Assume all dividends declared during the year were paid.
How much was the net cash flow from financing activities?
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