Cosmat Inc. reported net income of $128,000 for 20Y9. The liability and equity accounts from the company’s comparative balance sheet are as follows:
During the year, the company retired bonds payable at their face amount, declared dividends of $15,000, and issued 6,000 shares of common stock for $26 per share. Prepare the Cash Flows from (used for) Financing Activities section of the statement of cash flows.

Transcribed Image Text:

Dec. 31, 20Y9 Dec. 31, 20Y8 $ 57,920 20,000 290,000 $ 53,810 16,000 450,000 Accounts payable Dividends payable Bonds payable Common stock, $10 par value Paid-in capital in excess of par-common stock Retained earnings 180,000 120,000 328,000 488,000 232,000 375,000