Taylor Company Uses the Indirect Method to Prepare Its Statement

question 154

Multiple Choice

Taylor Company uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet: Note: Net Income for the year was $56,000. Which of the following statements is true of Taylor's statement of cash flows for the year 2014?

• A)The company issued stocks worth $30,000 during the year 2014.
• B)The company declared $52,000 as dividends during the year 2014.
• C)The company purchased treasury stock worth $8,000 during the year.
• D)The net cash flow from financing activities amounts to $176,000.

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