Question: Brief Exercise 11-31 (Algorithmic) Determining Net Cash Flow from Financing Activities Madison Company reported the following information: Notes payable Common stock 12/31/2018 $75,000 12/31/2019 595,000

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: Notes payable Common stock 12/31/2018 $75,000 12/31/2019 595,000 120,000 20,000 80,000 Retained earnings 36,000 Madison reported net income of $27,000 for the year ended December 31, 2019. In addition, Madison repaid $35,000 of the notes payable during 2019. Required: Compute net cash flow from financing activities. Use a minus sign to indicate negative cash flows (outflows)

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