The following entry was recorded by Woodrow Inc.: 
What is the effect on Woodrow's financial statements?
A) A cash inflow from financing activities of $57,000.
B) Net assets increased by $57,000.
C) A deduction of $10,000 in using the indirect method of determining cash flows from operating activities.
D) Retained earnings decreased by $10,000.
Correct Answer:
Verified
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