Miriam Co.reported a cash position of $35,000 and as of December 31, after its first year of operations.Miriam also reported the following: Net Income $\$ 23,000$
Amortization Expense $\$ 17,000$
Gain on the sale of equipment $\$ 5,000$
Cash from operating activities $\$ 42,000$
Cash used in investing activities $\$ 100,000$
How much cash was provided through Miriam's financing activties?
A)$100,000
B)$ 93,000
C)$ 90,000
D)$ 0

Question

Quizplus · Accepted Answer

To find the cash provided through financing activities, use the cash flow statement equation: Cash from operating activities + Cash from investing activities + Cash from financing activities = Change in cash. Here, $42,000 (operating) - $100,000 (investing) + Cash from financing activities = $35,000 (ending cash) - $0 (assuming starting cash is $0 since it's the first year). Solving for Cash from financing activities gives $93,000.

Miriam CoReported a Cash Position of $35,000 and as of December