Megan Corporation's net income last year was $98,000. Changes in the company's balance sheet accounts for the year appear below:
The company paid a cash dividend of $36,000 and it did not dispose of any long-term investments or property, plant, and equipment. The company did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.
-The net cash provided by (used in)financing activities last year was:
A) $(46,000)
B) $46,000
C) $(10,000)
D) $10,000

Question

Megan Corporation's net income last year was $98,000. Changes in the company's balance sheet accounts for the year appear below:
  The company paid a cash dividend of $36,000 and it did not dispose of any long-term investments or property, plant, and equipment. The company did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.
-The net cash provided by (used in)financing activities last year was:
A) $(46,000) 
B) $46,000 
C) $(10,000) 
D) $10,000

Quizplus · Accepted Answer

11ea7761_15a0_20c8_81a5_add605aaaf40_TB2580_00

Megan Corporation's Net Income Last Year Was $98,000