Dogs 4 U Corporation Has Net Cash Flow from Financing

question 1

Multiple Choice

Dogs 4 U Corporation has net cash flow from financing activities for the last year of $10 million. The company paid $8 million in dividends last year. During the year, the change in notes payable on the balance sheet was $9 million, and change in common and preferred stock was $0 million. The end of year balance for long-term debt was $44 million. Calculate the beginning of year balance for long-term debt.

• A) $37 million
• B) $34 million
• C) $33 million
• D) $35 million

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