The following information is related to Towson Company’s fiscal year

2018.

            Income Statement:

                        Net Income                             $3,000,000

                        Depreciation Expense        350,000

                        Loss on Sale of Plant Assets    45,000

                        Interest Expense                            5,000

            Balance Sheet – 12/31/17: Increase (Decrease)

                        Accounts Payable decrease    50,000

                        Plant Assets – Purchased       250,000

                        Plant Assets – Disposals         (100,000)

            Additional Information:

                        Common Stock exchanged for outstanding Long Term Notes Payable of $125,000

                        Dividends paid were $30,000

Use this information to determine Towson Company’s Net Cash Flows from Operating Activities. If the amount is an outflow then enclose the amount with dollar sign inside of brackets ( ).

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"