Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

Exercise 67

During the current year, Maine Salvage Company took out new loans of $17 million.n addition, the company repaid $2 million of prior loans and paid $1.5 million of interest expense.xplain how these cash flows will appear in the company's statement of cash flows, indicating the classification and the dollar amount of each cash flow.