Question
Cullumber Corporation reported the following information (in thousands) at December 31, 2018: 2018 2017 Dividends payable...
Cullumber Corporation reported the following information (in
thousands) at December 31, 2018:
| 2018 | 2017 | ||||||
| Dividends payable | $ | 20 | $ | 10 | |||
| Bank loan payable—current portion | 290 | 290 | |||||
| Bank loan payable—non-current portion | 500 | 255 | |||||
| Common shares | 640 | 480 | |||||
| Retained earnings | 720 | 535 | |||||
Additional information:
| 1. | The bank loan was increased by additional borrowings of $340 to partially finance the purchase of new equipment that cost $540. The bank loan was decreased by repayments. | ||
| 2. | Common shares were issued during the year. None were reacquired. | ||
| 3. | Dividends were paid during the year. | ||
| 4. | Net income for the year was $440. |
Prepare the financing activities section of Cullumber ’s statement
of cash flows for the year. (Show amounts that decrease
cash flow with either a - sign e.g. -15,000 or in parenthesis e.g.
(15,000).)
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