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 $95,000 $75,000 Common stock

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 $95,000 $75,000
Common stock 120,000 80,000
Retained earnings 20,000 36,000

Madison reported net income of $29,000 for the year ended December 31, 2019. In addition, Madison repaid $49,000 of the notes payable during 2019.

Required:

Compute net cash flow from financing activities. Use a minus sign to indicate negative cash flows (outflows). $fill in the blank 1

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