Tritan Company Is Preparing Its Statement of Cash Flows Using

question 94

Multiple Choice

Tritan Company is preparing its statement of cash flows using the indirect method.Refer to the following portion of the comparative balance sheet: $\begin{array}{c}\text {Tritan Company}\\\text { Comparative Balance Sheet}\\\text { December 31,2017 and 2016}\\\begin{array}{|l|r|r|r|}\hline&2017 & 2016 & \text { Increase/(Decrease) }\\\hline \text { Accounts Payable } & \$ 7,000 & \$ 5,000 & \$ 2,000 \\\hline \text { Accrued Liabilities } & 3,500 & 1,100 & 2,400 \\\hline \text { Long-term Notes Payable } & \underline{56,00} & \underline{67,000} & \$(11,000 \\\hline \text { Total Liabilities } & \$ 66,500 & \$ 73,100 & \$(6,600) \\\hline\end{array}\end{array}$ Additional information provided by the company includes the following:
1.During 2016,the company repaid $35,000 of long-term notes payable.
2.During 2016,the company borrowed $24,000 on a new note payable.
Based on the above information only,what amount of net cash flow would be shown in the financing section of the statement of cash flows?

• A)$(11,000)
• B)$11,000
• C)$59,000
• D)$(59,000)

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