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.com/ilm/takeAssignment/takeAssignmentMain.do?invoker assignments&takeAssignmentSessionLocator-assignment-take;&inprogress; eBook Video Cash Flows from Financing Activities Murray Company provided the following information a. Net income of $450,000 was earned in 2016. b. Information taken from comparative balance sheets: Murray Company Comparative Balance Sheets At December 31, 2015 and 2016 2015 2016 Bonds payable Mortgage payable Common stock Contributed capital in excess of par Retained earnings Required: Compute the financing cash flows for the current year. Use a minus sign to indicate a cash outflow 290,000 50,000 187,500 187,500 40,000 140,000 912,500 1,162,500 Check My Work

Explanation / Answer

Cash flow from financing activities: Issue of bonds $290,000 Mortgage paid -50,000 Net cash from financing activities $240,000

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