Compute the following items for the statement of cash flows: 1. The beginning and ending Retained Earnings

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Compute the following items for the statement of cash flows:

1. The beginning and ending Retained Earnings balances are $52,000 and $73,000, respectively. Net income for the period is $97,000. How much are cash dividends?

2. The beginning and ending net Fixed Assets balances are $121,000 and $136,000, respectively. Depreciation expense for the period is $23,000, and acquisitions of new fixed assets total $87,000. Fixed assets were sold at a $4,000 loss. What were the cash proceeds of the sale?

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Financial Accounting

ISBN: 978-0134727790

5th edition

Authors: Robert Kemp, Jeffrey Waybright

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