Question: Computing cash flows for investing and financing activities Consider the following facts for Java Jolt:
a. Beginning and ending Retained Earnings are $41,000 and $71,000, respectively. Net income for the period is $62,000.
b. Beginning and ending Plant Assets are $121,200 and $125,200, respectively.
c. Beginning and ending Accumulated Depreciation-Plant Assets are $20,200 and $21,200, respectively.
d. Depreciation Expense for the period is $18,000, and acquisitions of new plant assets total $23,000. Plant assets were sold at a $3,000 gain.
Requirements: 1. How much are cash dividends?
2. What was the amount of the cash receipt from the sale of plant assets?