Question
2. Ancy corporations balance sheet accounts as of December 31, 2017 and 2016 and information relating to 2015 activities are presented below. December 31, 2017
2. Ancy corporations balance sheet accounts as of December 31, 2017 and 2016 and information relating to 2015 activities are presented below.
|
| December 31, | ||||
|
| 2017 | 2016 | |||
Assets |
|
|
| |||
Cash |
| $ 440,000 | $ 200,000 | |||
Short-term investments | 600,000 | |||||
Accounts receivable (net) | 1,020,000 | 1,020,000 | ||||
Inventory | 1,380,000 | 1,200,000 | ||||
Long-term investments | 400,000 | 600,000 | ||||
Plant assets | 3,400,000 | 2,000,000 | ||||
Accumulated depreciation | (900,000) | (900,000) | ||||
Patent | 180,000 | 200,000 | ||||
| Total assets | $6,520,000 | $4,320,000 | |||
Liabilities and Stockholders' Equity Accounts payable and accrued liabilities |
$1,660,000 |
$1,440,000 | ||||
Notes payable (nontrade) | 580,000 | |||||
Common stock, $10 par | 1,600,000 | 1,400,000 | ||||
Additional paid-in capital | 800,000 | 500,000 | ||||
Retained earnings | 1,880,000 | 980,000 | ||||
| Total liabilities and stockholders' equity | $6,520,000 | $4,320,000 | |||
Information relating to 2017 activities:
Net income for 2017 was $1,300,000.
Cash dividends of $400,000 were declared and paid in 2017.
Equipment costing $1,000,000 and having a carrying amount of $320,000 was sold in 2017 for $360,000.
A long-term investment was sold in 2017 for $320,000. There were no other transactions affecting long-term investments in 2017.
20,000 shares of common stock were issued in 2017 for $25 a share.
Short-term investments consist of treasury bills maturing on 6/30/18.
Find
Net cash from operating activities
Net cash provided from investing activities, and
Net cash provided by financing activities
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