The following selected account balances were taken from ABC Company\'s general l

Question

 The following selected account balances were taken from ABC Company's general ledgers for 2019:                        January 1, 2019       December 31, 2019   Inventory                  49,000                52,000   Accounts payable           50,000                28,000   Salaries payable            9,000                 3,000   Investments                68,000                75,000   Accounts receivable        69,000                53,000   Land                       58,000                88,000   Notes payable             120,000                95,000   Common stock              100,000               170,000   Retained earnings          22,000                35,000  The following information was taken from ABC Company's 2019 income statement:    Sales revenue                   $430,000   Cost of goods sold               300,000   Salaries expense                  88,000   Net income                      $ 42,000  Calculate ABC Company's net cash flow from financing activities for 2019. If your answer is negative, place a minus sign in front of your answer with no spaces in between (e.g., -1234). 

Explanation / Answer

Answer:- Cash flows from financing activities:

Issuance of common stock                                       $70000

Net cash flows from financing activities                   $70000

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