Carter Hopkins Homes engaged in the following activities during the year: Borrowed $600,000 from Marshall Bank

Question:

Carter Hopkins Homes engaged in the following activities during the year:

• Borrowed $600,000 from Marshall Bank

• Declared and paid dividends on common stock of $28,000

• Made a $78,000 annual principal payment on a ten-year loan from Cardinal National Bank

• Purchased 10,000 shares of Carter Hopkins Homes stock for $200,000

Required

Prepare the cash flows provided by financing activities section of Carter Hopkins Homes' statement of cash flows.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...