I want some assistance in trying to analyze and answer the balance sheet and income statements for the following:
The following are balance sheets for Scott Company as of the end of the Years 1 and 2:
The following is also available for Year 2:
a) Plant assets were sold for their book value of $700. The assets had originally cost $1,000.
b) Cash dividends of $75 were paid during the year.
c) All account payable relate to inventory purchases.
d) All purchases of plant assets were cash transactions.
Refer to Scott Company. Determine the amount of cash provided by Scott’s operating activities.
Refer to Scott Company. Determine the amount of cash provided (or used) by Scott’s investing activities.
Refer to Scott Company. Determine the amount of cash provided (or used) by Scott’s financing activities.