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Cash flows from financing activities

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You are the CPA for Penguin's Ice Cream, a small local ice cream shop. Penguin's would like to apply for a small business loan, and the bank requires the company provide a statement of cash flows to prove its credit worthiness.

Use the attached comparative balance sheet to calculate Penguin's cash flows from financing activities.

**** Note change in retained earnings was due to net income $10000 and payment of $3000 of dividends

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The solution explains how to calculate the cash flows from financing activities.

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