Net Cash Flow

January 1, 2005 December 31, 2005

Accounts payable 48,000 63,000

Land 70,000 84,000

Notes payable 80,000 64,000

Common stock 30,000 90,000

Retained earnings 36,000 95,000

The following information was taken from ZZ Company's 2005 income statement:

Sales revenue $500,000

Cost of goods sold 280,000

Other expense 120,000

Net income $100,000

Calculate the net cash flow from financing activities for 2005.

Following is my answer, show your work is it’s wrong, thanks!

Cash flows from financing activities:
Cash received from issuance of common stock			60000
Cash paid on long-term note			-16000
Cash payments for dividends			41000
Net cash flows provided by financing activities			85000