1. ZTS Co. reported a beginning accumulated depreciation balance of $6,360,900 and an ending balance of $8,155,000. During the year, the company recieved $38,000 from selling off equipment originally purchased for $763,000. Assuming the equipment sold was fully depreciated at the end of 2021, how much depreciation expense did ZTS Co. recognize in 2022?

2. On October 25, 2022, ZTS Co.'s management team used 28,800 stock options to purchase shares of their $2 par value common stock. The strike price of the options was $3.13 and the market price per share on that day was $5.20. Assuming ZTS Co.'s finance team decided to purchase all of the shares needed for the options, what was the total amount spent purchasing shares?

3. ZTS Co. reported Cash Equivalents of $256,000 on its 2021 balance sheet. They originally paid $251,000 for the stock in this portfolio. This year, the company sold off 50% of their investment for $129,000. If their 2022 balance sheet reports Cash Equivalents of $135,500, what, if any, adjustment must be made for this portfolio in Cash Flow from Operations?

4. At the end of 2021, ZTS Co. reported Income Tax Payable of $398,000 and a Deferred Tax Asset of $86,200. At the end of 2022, they reported Income Tax Payable of $361,800 and a Deferred Tax Asset of $88,000. If the company reported Income Tax Expense of $814,000, how much did they pay in taxes for the year?

5. On August 1, 2022, ZTS Co. purchased 3,600 shares of Manakin Co.'s common stock for $5.70 per share, giving them 25% ownership in the company. At the end of the year, Manakin Co. reported net income of $377,600 and declared and paid a $230,000 dividend. Based on this information, what, if any, adjustments will ZTS Co. need to make in their Cash Flow from Operations section of the Statement of Cash Flows for this investment?

6. At the end of 2021, ZTS Co. reported PPE of $9,302,000. At the end of 2022, they reported PPE of $13,488,000. In addition to the information from adjustments you have already made, the management teams reports that they paid out $2,512,000 to purchase new equipment on December 30, 2021. Do you think ZTS Co. spent more cash on equipment or received any cash from the sale of equipment? If so, how much cash was involved?