Compute investing and financing amounts for the statement of cash flows
Response to the following problem:
Compute the following items for the statement of cash flows:
a. Beginning and ending Plant Assets, Net, are $152,000 and $147,000, respectively. Depreciation for the period was $28,000, and purchases of new plant assets were $91,000. Plant assets were sold at an $8,000 gain. What were the cash proceeds of the sale?
b. Beginning and ending Retained Earnings are $76,000 and $113,000, respectively. Net income for the period was $128,000, and stock dividends were $20,000. How much were cash dividends?