Motorcars of Phoenix, Inc., reported the following financial statements for 20X6:
Motorcars of Phoenix, Inc.
Income Statement
Year Ended December 31, 20X6
(In thousands)
Sales revenue ............................ $710
Cost of goods sold.................... $340
Salary expense.......................... 70
Depreciation expense ............... 20
Other expenses......................... 130
Total expenses.......................... 560
Net income .............................. $150

Compute the following investing cash flows.
a. Acquisitions of plant assets (all were for cash). Motorcars of Phoenix sold no plant assets.
b. Proceeds from the sale of investments. Motorcars of Phoenix purchased no investments.

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Motorcars of Phoenix, Inc. Comparative Balance Sheet December 31, 20X6 and 20XS In thousands) Assets Current: 20x6 20xS Liabilitios 20X6 20X5 Current Accounts payab Salary payable. Accrued liabilities. Cash Accounts receivable. S19 S 16 59 48 75 84 l. S47 S 42 21 23 Prepaid expenses. 3 2 Long-term notes payable 68 58 Long-term investments Plant assets, net. 55 75 225 185 Stockholders' Equity Common 40 250 S436 32 Retained earmings$410 246 Total S436 $410 Total