Question: Brief Exercise 11-31 (Algorithmic) Determining Net Cash Flow from Financing Activities Madison Company reported the following information: 12/31/2019 $95,000 120,000 20,000 12/31/2018 $75,000 80,000 Notes

Brief Exercise 11-31 (Algorithmic) Determining Net Cash Flow from Financing Activities

Brief Exercise 11-31 (Algorithmic) Determining Net Cash Flow from Financing Activities Madison Company reported the following information: 12/31/2019 $95,000 120,000 20,000 12/31/2018 $75,000 80,000 Notes payable Common stock Retained earnings 36,000 Madison reported net income of $32,000 for the year ended December 31, 2019. In addition, Madison repaid $40,000 of the notes payable during 2019

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