1. An old plant assets having an original cost of $30,000 were sold for $2,000 cash. Requirement

compute net cash provided by operating activities. compute net cash provided by investing activities. compute net cash provided by financing activities. compute net change of cash.

Condensed financial data of Smart Inc. are presented as follows. SMART INC. SMART INC. Comparative Balance Sheet Income Statement Data December 31 For the Year Ended December 31, 2008 Assets 2008 2007 Sales 600.000 Cash 27,000 33,000 Less: Accounts receivable 57,000 290,000 Inventories 45,000 41,000 Cost of goods sold 48.000 Operating expenses 14,000 (depreciation excluded) 130,000 Depreciation expense Prepaid expenses 17,000 65,000 Investments 162,000 50,000 Plant assets 580,000 520,000 Income tax 47,000 1 (211,000) (180,000) Interest expense 12.000 Accumulated depreciation Total 677,000 606,000 Loss on sale of plant assets 9,000 473,000 Liabilities and Stockholders' Equity Net income 127,000 44,000 51,000 Accounts payable Accrued expenses payable Bond payable 21,000 15,000 180,000 220,000 Common stock 175,000 150,000 Retained earnings 257,000 170,000 Total 677,000 606,000