Santa Fe Company was started on January 1, Year 1, when it acquired $9,200 cash...
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Accounting
Santa Fe Company was started on January 1, Year 1, when it acquired $9,200 cash by issuing common stock. During Year 1, the company earned cash revenues of $5,300, paid cash expenses of $3,350, and paid a cash dividend of $900. Based on this information,
Multiple Choice
The Year 1 statement of cash flows would show net cash inflow from financing activities of $8,300.
The Year 1 statement of cash flows would show a net cash flow from financing activities of $9,200.
The Year 1 income statement would show net income of $1,050.
The balance sheet at December 31, Year 1 would show total equity of $14,500.
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