Question: Oklahoma Corp. uses the indirect method to prepare its statement of cash flows. Refer to the following information for 2018: 1. Long-Term Notes Payable, beginning

Oklahoma Corp. uses the indirect method to prepare its statement of cash flows. Refer to the following information for 2018: 1. Long-Term Notes Payable, beginning balance, $85,000 2. Long-Term Notes Payable, ending balance, $75,000 3. Common Stock, beginning balance, 53000 4. Common Stock, ending balance, $28,000 5. Retained Earnings, beginning balance, $76,000 6. Retained Earnings, ending balance, $118,000 7. Treasury Stock, beginning balance, 55500 8. Treasury Stock, ending balance, $10,100 9. No stock was retired. 10. No treasury stock was sold. 11. During 2018, the company repaid $35,000 of long-term notes payable. 12. During 2018, the company borrowed $25,000 on new long-term notes payable. 13. Net income for the year was $49,000. 14. Assume all dividends declared during the year were paid. Compute the net cash provided by financing activities B I S IX E 3 Til E III x2 x? Insert Formula
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
