1. A firm has beginning net fixed assets of $168,000 and ending net fixed assets of $141,300. Depreciation was $21,000. What is the amount of capital spending? A. $2,500 B. $5,700 C. $47,700 D, $26,700

2. You have been given the following information about Pho Lucky Inc.: Last year, the company had common stock of $325,568 and long-term debt of $78,445. During the year Pho Lucky had net income of $248,462 and paid dividends of $219,651. This year-end common stock is $404,379 and long-term debt is $61,290. You are required to calculate cash flow from financing activities (both debt and equity) for the Accounting Statement of Cash Flows for the current year. (Hint: remember to account for retained earnings and dividends)