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 ( ).