(SOLVED) During the current year Maine Salvage Company took out new


Question Description:

$19

During the current year, Maine Salvage Company took out new loans of $17 million. In addition, the company repaid $2 million of prior loans and paid $1.5 million of interest expense. Explain how these cash flows will appear in the company’s statement of cash flows, indicating the classification and the dollar amount of each cash flow.

Answer

$19