Exercise $14-12$A $($Algo$)$ Determining cash flows from financing activities LO $14-4$

On January $1,$ Year $1,$ Campbell Company had a balance of $$116,500$ in its Common Stock account. During Year $1,$ Campbell paid $$7,000$ to purchase treasury stock. Treasury stock is accounted for using the cost method. The balance in the Common Stock account on December $31,$ Year $1,$ was $$133,500.$ Assume that the common stock is no par stock.

Required

Determine the cash inflow from the issue of common stock.

Prepare the financing activities section of the Year $1$ statement of cash flows.