(L01,2) (Cash Provided by Operating, Investing, and Financing Activities) The balance sheet data of Brown Company at the end of 2017 and 2016 follow.

Land was acquired for $30,000 in exchange for common stock, par $30,000, during the year; all equipment purchased was for cash. Equipment costing $10,000 was sold for $3,000; book value of the equipment was $6,000. Cash dividends of $10,000 were declared and paid during the year.
Instructions Compute net cash provided (used) by:

(a) Operating activities.

(b) Investing activities.

(c) Financing activities.

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2017 Cash $ 30,000 2016 $ 35,000 Accounts receivable (net) 55,000 45,000 Inventory 65,000 45,000 Prepaid expenses 15,000 25,000 Equipment 90,000 75,000 Accumulated depreciation-equipment (18,000) (8,000) Land 70,000 40,000 $307,000 $257,000 Accounts payable $ 65,000 $ 52,000 Accrued expenses 15,000 Notes payable bank, long-term ---0-- 18,000 23,000 Bonds payable 30,000 a Common stock, $10 par 189,000 Retained earnings 159,000 8,000 5,000 $307,000 $257,000