1) On January 1, Year 1, Bacco Company had a balance of $76,100 in its Delivery Equipment account. During Year 1, Bacco purchased delivery equipment that cost $34,500. The balance in the Delivery Equipment account on December 31, Year 1, was $76,861. The Year 1 income statement reported a gain from the sale of equipment for $2,400. On the date of sale, accumulated depreciation on the equipment sold amounted to $10,000.

On January 1, Year 1, Bacco Company had a balance of $76,100 in its Delivery Equipment account. During Year 1, Bacco purchased delivery equipment that cost $34,500. The balance in the Delivery Equipment account on December 31, Year 1, was $76,861. The Year 1 income statement reported a gain from the sale of equipment for $2,400. On the date of sale, accumulated depreciation on the equipment sold amounted to $10,000. Required a. Determine the original cost of the equipment that was sold during Year 1. Cost of the equipment b. Determine the amount of cash flow from the sale of delivery equipment that should be shown in the investing activities section of the Year 1 statement of cash flows. Amount of cash flowa. Net income was $473,000. b. Issued common stock for $75,000 cash. c. Paid cash dividend of $10,000. d. Paid $120,000 cash to settle a note payable at its $120,000 maturity value. e. Paid $125,000 cash to acquire its treasury stock. f. Purchased equipment for $85,000 cash. Use the above information to determine this company's cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from financing activities 0