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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Cornerstone Exercise 15-21Â Â Â Â Â Â Â Â Â Â Â Â Cash Flows from Financing Activities
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Blaylock Company earned net income of $900,000 in 2014. Blaylock provided the following information:
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Blaylock Company Comparative Balance Sheets
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At December 31, 2013 and 2014
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2013Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 2014
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|
Bonds payable |
— |
385,000 |
|
Mortgage payable |
100,000 |
— |
|
Common stock |
375,000 |
375,000 |
|
Pain-in capital in excess of par |
280,000 |
280,000 |
|
Retained earnings |
1,825,000 |
2,325,000 |
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Required:
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Compute the financing cash flows for the current year.
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