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Homework answers / question archive / The following information is related to Towson Company's fiscal year 2018
The following information is related to Towson Company's fiscal year 2018.
Income Statement:
Net Income $2,500,000
Depreciation Expense 500,000
Loss on Sale of Plant Assets 40,000
Interest Expense 5,000
Balance Sheet - 12/31/17: Increase (Decrease)
Accounts Payable decrease 35,000
Plant Assets - Purchased 250,000
Plant Assets - Disposals (100,000)
- Additional Information:
Common Stock exchanged for outstanding Long Term Notes Payable of $125,000
Dividends paid were $30,000
Use this information to determine Towson Company's Net Cash Flows from Operating Activities. If the amount is an outflow then enclose the amount with dollar sign inside of brackets ( ).
