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

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 12/31/2018 Notes payable $75,000 Common stock $95,000 120,000 20,000 80,000 36,000 Retained earnings Madison reported net income of $40,000 for the year ended December 31, 2019. In addition, Madison repaid $41,000 of the notes payable during 2019. Required:

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