McCabe Company reported the following financial statements for 2016 and 2017:

Compute the following investing cash flows:
a. Purchases of plant assets (all were for cash). There were no sales of plant assets.
b. Proceeds from the sale of investments. There were no purchases of investments.

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McCabe Company Income Statement For the Year Ended December 31, 2017 4,810,000 2,890,000 5 Sales revenues Less: Cost of goods sold Gross profit 8 Less operating expenses: Salarles and wages expense Insurance expense 1,920,000 370,000 14,000 71,000 127,000 10 11 Depreciation expense Other operating expenses 12 13 14 Operating Income 15 Plus other Income and less other expenses: Interest expense Totaloperating expenses 582,000 1,338,000 6,100 16 Other Income and expenses 17 18 19 Income before Income taxes 20 Less: Income tax expense 21 Net Income 22 Total other Income and expenses 6,100 1,331,900 403,700 928,200 McCabe Company Comparative Balance Sheets December 31, 2017 and 2016 Assets 2017 2016 Current assets: 6 Cash Accounts recelvable 8 Inventory 9 Prepald insurance 10 585,000 S 78,000 990,000 4,500 1,657,500 $ 468,000 14,000 240,000 4,500 126,500 Total current as sets 11 12 Property, plant, and equlpment 13 Less: Accumulated depreciation 14 Investments 15 Total assets 16 17 18 Current liabilitles: 19 Accounts payable 20 Wages payable 21 Interest payable 22 Income taxes payable 23 Other accrued expenses payable Total current llabilitles 1,250,000 S (277,000) 46,000 2,6/6,500 S 1,130,000 (206,000) 68,000 1,718,500 Liabilities 24,000 $ 14,000 2,200 276,000 28,000 344,200 S 47,000 15,000 5,600 35,000 15,000 117,600 24 25 26 Long-term llabilities 27 Total llabllities 69,000 413,200 S 85,000 202,600