Stone Retail Corporation's most recent comparative Balance Sheet is as follows: Stone's net income was $46,000. No equipment was sold or purchased. Cash dividends of $40,000 were declared and paid. Stone uses the indirect method to prepare its statement of cash flows. What is Stone's net cash provided by (used in) financing activities?
A)($20,000)
B)($15,000)
C)$5,000
D)$65,000

Question

Stone Retail Corporation's most recent comparative Balance Sheet is as follows:  Stone's net income was $46,000. No equipment was sold or purchased. Cash dividends of $40,000 were declared and paid. Stone uses the indirect method to prepare its statement of cash flows. What is Stone's net cash provided by (used in) financing activities?
A)($20,000) 
B)($15,000) 
C)$5,000 
D)$65,000

Quizplus · Accepted Answer

The Answer of Stone Retail Corporation's most recent comparative Balance Sheet is as follows:  Stone's net income was $46,000. No equipment was sold or purchased. Cash dividends of $40,000 were declared and paid. Stone uses the indirect method to prepare its statement of cash flows. What is Stone's net cash provided by (used in) financing activities?
A)($20,000) 
B)($15,000) 
C)$5,000 
D)$65,000

Stone Retail Corporation's Most Recent Comparative Balance Sheet Is as Follows