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Determine Towson Company Net Cash Flows

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Reference no: EM133068885

Question - The following information is related to Towson Company's fiscal year 2020. Income Statement:

Net Income $2,400,000

Depreciation Expense 550,000

Loss on Sale of Plant Assets 60,000

Interest Expense 5,000

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

Accounts Payable decrease 30,000

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

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 ( ).

Reference no: EM133068885

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