In Rooney Company, Treasury Stock increased $30,000 from a cash purchase, and Retained Earnings increased $80,000 as a result of net income of $124,000 and cash dividends paid of $44,000. Net cash used by financing activities is:
a) $44,000
b) $74,000
c) $30,000
d) $110,000
I am not sure on how to answer this question. I tried a) $44,000 and it was incorrect. Can someone please help figure this out. Any help would be greatly appreciated.
a) $44,000
b) $74,000
c) $30,000
d) $110,000
I am not sure on how to answer this question. I tried a) $44,000 and it was incorrect. Can someone please help figure this out. Any help would be greatly appreciated.