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The following information was drawn from the year-end balance sheets of Fox River, Incorporated. Account...

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Accounting

The following information was drawn from the year-end balance sheets of Fox River, Incorporated. Account Title Year 2 Year 1 Bonds payable $ 705,000 $ 1,100,000 Common stock 210,000 126,000 Treasury stock 28,000 7,000 Retained earnings 84,600 63,600 Additional information regarding transactions occurring during Year 2: 1. Fox River, Incorporated issued $48,100 of bonds during Year 2. The bonds were issued at face value. All bonds retired were retired at face value. 2. Common stock did not have a par value. 3. Fox River, Incorporated uses the cost method to account for treasury stock. 4. The amount of net income shown on the Year 2 income statement was $32,900. Required a. Determine the amount of cash flow for the retirement of bonds that

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