Louisiana Company uses the indirect method to prepare its statement of cash flows. Refer to the following
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Question:
Louisiana Company Comparative Balance Sheet December 31, 2019 and 2018 | |||
2019 | 2018 | Increase/(Decrease) | |
Common Stock | $32,000 | $2,400 | $29,600 |
Retained Earnings | 123,000 | 76,000 | 47,000 |
Treasury Stock | (15,000) | (8,200) | (6,800) |
Total Equity | $140,000 | $70,200 | $69,800 |
Note:
1. There were no stock retirements during the year.
2. There were no sales of treasury stock during the year.
Compute the cash flow from transactions involving treasury stock.
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