Net cash flows from financing activities were a. $(25,000) b. $(37,000) c. $(38,000) d. $(42,000) Comparative consolidated

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Net cash flows from financing activities were

  a. $(25,000)
  b. $(37,000)
  c. $(38,000)
  d. $(42,000)

Comparative consolidated balance sheet data for Iverson, Inc., and its 80 percent–owned subsidiary Oakley Co. follow:

                

                

Additional Information for Fiscal Year 2018

∙ Iverson and Oakley’s consolidated net income was $45,000.
∙ Oakley paid $5,000 in dividends during the year. Iverson paid $12,000 in dividends.
∙ Oakley sold $11,000 worth of merchandise to Iverson during the year.
∙ There were no purchases or sales of long-term assets during the year.

          In the 2018 consolidated statement of cash flows for Iverson Company:

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Advanced Accounting

ISBN: 978-1259444951

13th edition

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni

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