Reference no: EM132631171

Question - The following information is related to Towson Company's fiscal year 2018.

Income statement:

Net Income $2,700,000

Depreciation Expense $400,000

Loss on Sale of Plant Assets $45,000

Interest Expense $5,000

Balance Sheet- 12/31/17: Increase (Decrease)

Accounts Payable decrease $45,000

Plant Assets-Purchased $250,000

Plant Assets-Disposals $100,000

Additional Information:

Common stock exchanged for outstanding Long Term Notes Payable of $125,000

Dividends paid were $30,000

Required - Use this information to determine Towson Company's Net Cash Flows from Operating Activities. If the amount is an outflow then enclose the amount with dollar sign inside of brackets ().