Arkansas Company is preparing its statement of cash flows using the indirect met

Question

Arkansas Company is preparing its statement of cash flows using the indirect method. Refer to the following information: 1. Repayments on Long-term Notes Payable $58,000 2 New borrowing on Long- term Notes Payable $20,000 Which of the following statements is correct? 0 A. O B. O C. Net cash provided by financing activities is $38,000. Net cash provided by investing activities is $38,000. Net cash used for financing activities is $(38,000). D. Net cash used for investing activities will is $58,000

Explanation / Answer

Cash flows fromm Financing activities

Cash repatment of Long term Notes (58000)

Less: Rebooking 20000

Cash Flows from investinh

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