Use the data given in S13-5 for the McCabe Company to compute the following financing cash flows:

a. New borrowing or payment of long-term notes payable. McCabe Company had only one long-term note payable transaction during the year (this long-term note payable is the only long-term liability that the company has).
b. Issuance of common stock or retirement of common stock. The company had only one common stock transaction during the year.
c. Payment of cash dividends (same as dividends declared).

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McCabe Company Income Statement For the Year Ended December 31, 2017 4,810,000 2,890,000 5 Sales revenues Less: Cost of goods sold Gross profit 8 Less operating expenses: Salarles and wages expense Insurance expense 1,920,000 370,000 14,000 71,000 127,000 10 11 Depreciation expense Other operating expenses 12 13 14 Operating Income 15 Plus other Income and less other expenses: Interest expense Totaloperating expenses 582,000 1,338,000 6,100 16 Other Income and expenses 17 18 19 Income before Income taxes 20 Less: Income tax expense 21 Net Income 22 Total other Income and expenses 6,100 1,331,900 403,700 928,200 McCabe Company Comparative Balance Sheets December 31, 2017 and 2016 Assets 2017 2016 Current assets: 6 Cash Accounts recelvable 8 Inventory 9 Prepald insurance 10 585,000 S 78,000 990,000 4,500 1,657,500 $ 468,000 14,000 240,000 4,500 126,500 Total current as sets 11 12 Property, plant, and equlpment 13 Less: Accumulated depreciation 14 Investments 15 Total assets 16 17 18 Current liabilitles: 19 Accounts payable 20 Wages payable 21 Interest payable 22 Income taxes payable 23 Other accrued expenses payable Total current llabilitles 1,250,000 S (277,000) 46,000 2,6/6,500 S 1,130,000 (206,000) 68,000 1,718,500 Liabilities 24,000 $ 14,000 2,200 276,000 28,000 344,200 S 47,000 15,000 5,600 35,000 15,000 117,600 24 25 26 Long-term llabilities 27 Total llabllities 69,000 413,200 S 85,000 202,600