(Answered) Question - a business has the following financial

Accounting

Question - A business has the following financial information for the year:

1. Issued 10,000 shares of common stock for $20.00 per share

2. Issued long term debt of $500,000

3. Paid dividends of $85,000

4. Sold a piece of equipment of $50,000. The equipment had a book value of $20,000

5. Earned net income of $140,000

Based on the financial information presented above, determine net cash flow from financing activities for the year.

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