Cornerstones of Financial Accounting
4th Edition
ISBN: 9781337690881
Author: Jay Rich, Jeff Jones
Publisher: Cengage Learning
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For the past year, LP Gas, Inc.
Transcribed Image Text:For the past year, LP Gas, Inc. had cash flow from assets of $38,100 of
which $21,500 flowed to the firm's stockholders. The interest paid was
$2,300. What is the amount of the net new borrowing?
a. -$14,300
b. -$9,700
c. $12,300
d. $14,300
e. $18,900
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