Use the information below to answer the following question(s):Howard Co. uses the direct method to prepare its operating activities section of the statement of cash flows. Indicate how each event affects net income and the three types of activities on the statement of cash flows. In the net income column, use the letter "I" to indicate increase, the letter "D" to indicate decrease, and the letters "NA" to indicate no effect on net income. In the three cash flow columns, use the letter "I" to indicate cash inflow, the letter "D" to indicate cash outflow, and the letters "NA" to indicate no effect on cash flows.Howard Co. declared and paid a $1.50 per share cash dividend on the 20,000 shares of its common stock.
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What will be an ideal response?
(NA) (NA) (NA) (D)
Cash dividends are reported as a cash outflow in the financing activities section of the statement of cash flows.
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