Reference no: EM132516695
Cash Flows from Financing Activities
Murray Company earned net income of $450,000 in 20X2. Murray provided the following information:
Murray Company
Comparative Balance Sheets
At December 31, 20X1 and 20X2
20X1 20X2
Bonds payable $ - 245,000
Mortgage payable 50,000 -
Common stock 187,500 187,500
Paid-in capital in excess of par 140,000 140,000
Retained earnings 912,500 1,162,500
Required:
Question 1: Compute the financing cash flows for the current year. Use a minus sign to indicate a cash outflow.
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