Dogs 4 U Corporation has net cash flow from financing activities for the last year of $40 million. The company paid $190 million in dividends last year. During the year, the change in notes payable on the balance sheet was $45 million and change in common and preferred stock was $0. The end-of-year balance for long-term debt was $350 million. Calculate the beginning-of-year balance for long-term debt. (Enter your answer in millions of dollars.)

The beginning of the year long-term debt was 165,000,000

Explanation:

procceds from note payable       45,000,000

cash dividend                              (190,000,000)

from long term debt                          ???

cahsflow from financing activities 40,000,000

change in long term debt during the year:

40,000,000 + 190,000,000 - 45,000,000 = 185,000,000

Now, with the net variation in long-term debt we can sovlefor the beginning value:

IF ending long-term debt is       350,000,000

and it increase for                     (185,000,000)

Then, the beginning Long term 165,000,000

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