Gooding Company has the following information available for the year ending Dece

Question

Gooding Company has the following information available for the year ending December 31, 20x6 Net Income $ 275 Accounts Payable, 1/1 149 Depreciation Expense Amortization Expense Intangible Assets Accounts Rec., 1/1 65 Accounts Payable, 12/31 124 Purchase of Long Term 15 Investments 256 210 Accounts Rec., 12/31 185 Issuance of Stock For Cash 45 ssuance of Bonds Payable Sale of Long Term For Cash 300 Investment at Cost 45 Inventory, 1/1 315 Inventory, 12/31 346 Purchase of Treasury ssuance of Stock For Long Term Assets Prepaid Expenses, 1/1 44 Stock 13 13 Prepaid Expenses, 12/31 20 On Gooding's Statement of Cash Flows for the year ending December 31, 20x6, how much would show as Net Cash Flows from Financing Activities? Select one O a. $345 O b. $332 ? c. $288 O d. $376

Explanation / Answer

Answer is b. $ 332 Explanation: Cash flows from Financing activities: Issue of stock for cash 45 Issue of Bonds for cash 300 Purchase of treasury Sstock -13 Net cash provided from Financing activities 332

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