Reference no: EM131921162
Question - Checker's Games Co. reported the following items on its comparative balance sheet for 2008:
2008 2007
Accounts payable $200,000 $175,000
Dividends payable 10,000 0
Notes payable 280,000 240,000
Common stock 315,000 290,000
Additional paid-in capital 120,000 100,000
Land 175,000 150,000
Goodwill 45,000 75,000
Additional information for 2008:
1. A $70,000 note payable was issued for cash.
2. Interest expense totaled $15,000 for the year of which $13,500 was paid in cash.
3. Stock was issued for cash (the transaction involved common stock).
4. A note payable for $30,000 was repaid.
5. Dividends of $50,000 were declared of which $40,000 have been paid.
Required: Prepare the financing section of the cash flow statement in good form for Checker's Games Co.