Lopez Corp

question 36

Multiple Choice

Lopez Corp.uses the indirect method to prepare its statement of cash flows.Refer to the following information for 2017: 1.Long-Term Notes Payable,beginning balance,$85,000
2.Long-Term Notes Payable,ending balance,$71,000
3.Common Stock,beginning balance,$3,100
4.Common Stock,ending balance,$27,000
5.Retained Earnings,beginning balance,$76,000
6.Retained Earnings,ending balance,$120,000
7.Treasury Stock,beginning balance,$5,200
8.Treasury Stock,ending balance,$10,100
9.No stock was retired.
10.No treasury stock was sold.
11.During 2016,the company repaid $37,000 of long-term notes payable.
12.During 2016,the company borrowed $51,000 on a new note payable.
13.Net income for the year was $54,000.
14.Assume all dividends declared during the year were paid.
What is the net cash flow from financing activities?

• A)$19,000
• B)$9,000
• C)($14,000)
• D)$23,000

---

Definitions:

Systolic Pressure

A measure of blood pressure generated by the heart’s contraction.

Cardiovascular Risk

The potential likelihood of an individual developing heart disease or stroke, influenced by factors such as high blood pressure, cholesterol levels, smoking, and diabetes.

Atherosclerosis

The formation of plaque within the arteries.

Arteriosclerosis

A condition marked by loss of elasticity and hardening of arteries.