Mars Chemicals Company uses the indirect method to prepare its statement of cash flows
Refer to the following portion of the comparative balance sheet:
Mars Chemicals Company
Comparative Balance Sheet
December 31, 2017 and 2016
2016 2015 Increase/(Decrease)
Common Stock $33,000 $2,500 $30,500
Retained Earnings 154,000 155,000 (1,000 )
Treasury Stock (8,500 ) (5,200 ) (3,300 )
Total Equity $178,500 $152,300 $26,200
Net Income for the year was $60,000.
Which of the following statements is true of Taylor's statement of cash flows for 2016?
A) The company issued stocks for $33,000.
B) The company declared $61,000 as dividends.
C) The company purchased treasury stock for $8,500.
D) The net cash flow from financing activities is $178,500.
B .B)
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