The balance sheets of Butler, Inc. and its 70%-owned subsidiary, Cassie Corp., which Butler has owned for several years are presented below: Additional information for 2021:Butler & Cassie's consolidated net income was $100,000.Cassie paid $10,000 in dividends.There were no purchases or disposals of plant & equipment or copyright this year.Net cash flow from financing activities was:
A)$(92,000).
B)$(96,000).
C)$(300,000).
D)$(80,000).
E)$(126,000).

Question

The balance sheets of Butler, Inc. and its 70%-owned subsidiary, Cassie Corp., which Butler has owned for several years are presented below:  Additional information for 2021:Butler & Cassie's consolidated net income was $100,000.Cassie paid $10,000 in dividends.There were no purchases or disposals of plant & equipment or copyright this year.Net cash flow from financing activities was:
A)$(92,000). 
B)$(96,000). 
C)$(300,000). 
D)$(80,000). 
E)$(126,000).

Quizplus · Accepted Answer

The Answer of The balance sheets of Butler, Inc. and its 70%-owned subsidiary, Cassie Corp., which Butler has owned for several years are presented below:  Additional information for 2021:Butler & Cassie's consolidated net income was $100,000.Cassie paid $10,000 in dividends.There were no purchases or disposals of plant & equipment or copyright this year.Net cash flow from financing activities was:
A)$(92,000). 
B)$(96,000). 
C)$(300,000). 
D)$(80,000). 
E)$(126,000).

The Balance Sheets of Butler, Inc