Karaoke Records Company uses the indirect method to prepare its statement of cash flows. Refer to the following sections of the comparative balance sheet: 
Additional information for 2017:
• No stock was retired.
• No treasury stock was sold.
• The company repaid $60,000 of long-term notes payable.
• The company borrowed $51,000 on a new long-term note payable.
• Net income for the year was $68,000.
Prepare the financing section of the statement of cash flows for the year ended December 31, 2017.
Definitions:
Manufacturing Departments
Specific areas within a manufacturing facility where different stages of the production process are carried out.
Job A496
A specific, identifiable work task or project within an organization, denoted by its unique job number for tracking and costing purposes.
Total Job Cost
The complete cost of a particular job, project, or order, including all direct and indirect costs such as materials, labor, and overhead.
Predetermined Overhead Rate
A predetermined overhead rate is calculated by dividing estimated manufacturing overhead costs by an allocation base, used to assign overhead costs to products.
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