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Orange Corp. uses the indirect method to prepare its statement of cash flows. Refer to...

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Accounting

Orange Corp. uses the indirect method to prepare its statement of cash flows. Refer to the following information for the year: 1. Long-Term Notes Payable, beginning balance, $80,000 2. Long-Term Notes Payable, ending balance, $75,000 3. Common Stock, beginning balance, $3300 4. Common Stock, ending balance, $29,000 5. Retained Earnings, beginning balance, $75,000 6. Retained Earnings, ending balance, $115,000 7. Treasury Stock, beginning balance, $6000 8. Treasury Stock, ending balance, $10,500 9. No stock was retired. 10. No treasury stock was sold. 11. During the year, the company repaid $36,000 of long-term notes payable. 12. During the year, the company borrowed $31,000 on new long-term notes payable. 13. Net income for the year was $51,000. 14. Assume all dividends declared during the year were paid. What is the net cash provided by financing activities?

A.($5000)

B.$21,200

C.$5200

D.$10,200

2.The following Office Supplies account information is available for Avocado Company.

Beginning balance $2000
Office Supplies expensed 6000
Ending balance 4000

From the above information, calculate the amount of office supplies purchased.

A.$2000

B.$4000

C.$6000

D.$8000

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