Question: 17. FX Company uses the indirect method to prepare its statement of cash 1 poin flows. Please refer to the following sections of the comparative
17. FX Company uses the indirect method to prepare its statement of cash 1 poin flows. Please refer to the following sections of the comparative balance sheet provided below. Calculate the net Cash flow from financing activities amount. * Accounts payable Accrued liabilities Long-term notes payable Total liabilities 2014 2013 $ 4,000S 6,000 2,000 1,000 84.000 90,000 $ 90,000 $ 97,000 Common stock Retained earnings Treasury stock Total equity 30,000 2.000 113,000 74,000 (8,000) (5,000) $135,000 $ 71,000 Total liabilities and equity $225,000 $168.000 Additional information: No stock was retired. No treasury stock was sold. During 2014, the company repaid $40,000 of long-term notes payable. During 2014, the company borrowed $34,000 on a new note payable. Net income for the year was $49,000. $7,000 $ 8,000 $ 9,000 $ 10,000 None of the above
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