Crispy Corporation Has Net Cash Flow from Financing Activities for the Last

question 94

Multiple Choice

Crispy Corporation has net cash flow from financing activities for the last year of $20 million. The company paid $5 million in dividends last year. During the year, the change in notes payable on the balance sheet was an increase of $2 million, and change in common and preferred stock was an increase of $3 million. The end of year balance for long-term debt was $45 million. What was their beginning of year balance for long-term debt?

• A) $15 million
• B) $20 million
• C) $25 million
• D) $35 million

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