Jacobson Manufacturing Corporation earned $84,000 in profit during 2023. Machinery was sold for $116,000 and a $24,000 loss on the sale was recorded. Machinery purchases totalled $330,000 including a July purchase for which an $80,000 promissory note was issued. Bonds were retired at their face value, and the issuance of new common shares produced an infusion of cash. Jacobson’s comparative balance sheets were as follows:

1. What was Jacobson’s depreciation expense in 2023?2. What was the amount of cash flow from operating activities?3. What was the amount of cash flow from investing activities?4. What was the amount of dividends declared? paid?5. By what amount would you expect the total inflows of cash to differ from the total outflows of cash?6. What was the amount of cash flow from financing activities?

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Jacobson Manufacturing Corporation Comparative Balance Sheet Information (in thousands) December 31 Assets Cash Accounts receivable Merchandise inventory Machinery Accumulated depreciation Total assets Liabilities and Equity Accounts payable Notes payable Dividends payable Bonds payable Common shares Retained earnings Total liabilities and equity 2023 $ 104 196 324 1,350 (190) $ 1,784 $ 238 272 32 228 700 314 $ 1,784 2022 $ 84 222 310 1,260 (210) $1,666 $ 286 210 20 320 560 270 $ 1,666