Reference no: EM132627124
The following information is related to Towson Company's fiscal year 2018.
Income Statement:
Net Income $3,700,000
Depreciation Expense 400,000
Loss on Sale of Plant Assets 65,000
Interest Expense 5,000
Balance Sheet - 12/31/17: Increase (Decrease)
Accounts Payable decrease 40,000
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
Problem 1: 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 ( ).
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