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 $129,000 and $122,000, respectively. Depreciation for the period was $16,000, and purchases of new plant assets were $47,000. Plant assets were sold at a $5,000 gain. What were the cash proceeds of the sale?
b. Beginning and ending Retained Earnings are $67,000 and $103,000, respectively. Net income for the period was $132,000, and stock dividends were $24,000. How much were cash dividends?