The following data is supplied from the comparative balance sheets and income statement information from Moreno, Incorporated Net income for Year 2 was $40,000. No long-term assets were sold and no new notes were issued during Year 2. During Year 2, Moreno paid dividends of $24,000.
Consider the information provided.
Required:Prepare the financing activities section of Moreno's statement of cash flows.
Definitions:
Dividend Payment
The distribution of a portion of a company's earnings to its shareholders, usually in the form of cash or additional stock.
Quarterly Basis
Pertaining to or occurring every quarter of a year, often used in the context of financial reporting or dividend payments.
Homemade Dividend
A strategy where investors create their own dividend stream by selling a portion of their portfolio of equities, as opposed to relying on company-issued dividends.
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