The below is related to the calculation of the free cash flow to equity.
I noticed that in couple of examples as well as in the EOC, that under the financing activities section of the cash flow statement, the amount being raised through notes payable and long term financing issuances are in brackets. I read it as paying off the debt, however, as per the solution, this is represented as borrowing. I am able to solve the example when I look at the balance sheet, but when I look at the cash flow statement only, my FCFE is wrong.
Did anyone else encounter the same issue or is it just me that cant read the financial statement?