What is the net cash provided by financing activities?

Question

Oklahoma Corp. uses the indirect method to prepare its statement of cash flows. Refer to the following information for 2018:

1. Long-Term Notes Payable, beginning balance, $85,000
2. Long-Term Notes Payable, ending balance, $75,000
3. Common Stock, beginning balance, $3000
4. Common Stock, ending balance, $28,000
5. Retained Earnings, beginning balance, $76,000
6. Retained Earnings, ending balance, $118,000
7. Treasury Stock, beginning balance, $5500
8. Treasury Stock, ending balance, $10,100
9. No stock was retired.
10. No treasury stock was sold.
11. During 2018, the company repaid $35,000 of long-term notes payable.
12. During 2018, the company borrowed $25,000 on new long-term notes payable.
13. Net income for the year was $49,000.
14. Assume all dividends declared during the year were paid.

A) $20,400
B) $13,400
C) ($10,000)
D) $3400

Answer 1

C) ($10,000)