25. Jamison Corp's balance sheet accounts as of December 31, 2021 and 2020 and information relag to 2021 activities are presented below. December 31 2021 2020 Assets Cash $ 440,000 $ 200,000 Short-term investments Accounts receivable (net) ( 600,000 1,020,000 1,380,000 1,020,000 Inventory 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 $8 520,000 $4320 000 $1,660,000 $1,440,000 580,000 Liabilities and Stockholders' Equity ' Accounts payable and accrued liabilities Notes payable (nontrade) Common stock, $10 par $ Additional paid-in capital - Retained earnings 1,600 000 1,400,000 800,000 500,000 1.890.000 990.000 Total liabilities and stockholders' equity $6 520.000 $4.320.000 Information relating to 2021 activities Net income for 2021 was $1,500,000 . Cash dividends of $600 000 were declared and paid in 2021. Equipment costing $1,000,000 and having a carrying amount of $320,000 was sold in 2021 for $380,000 Along-term investment was sold in 2021 for $320,000. There were no other transactions affecting long-term investments in 2021. 20,000 shares of common stock were issued in 2021 for $25 a share. Short-term investments consist of treasury bills maturing on 6/30/22 -10- Net cash provided by Jamison's 2021 operating activities was a $1,500,000 b. $2,120,000 C. $2,080 000 d. $2,160,000 26. Jamison Corp.'s balance sheet accounts as of December 31, 2021 and 2020 and information relating to 2021 activities are presented below. December 31 2021 2020 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, S10 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 -11- Net income for 2021 was $1,500,000 Cash dividends of $600,000 were declared and paid in 2021. Equipment costing $1,000,000 and having a carrying amount of $320,000 was sold in 2021 for $360,000 A long-term investment was sold in 2021 for $320,000. There were no other transactions affecting long-term investments in 2021. 20,000 shares of common stock were issued in 2021 for $25 a share. Short-term investments consist of treasury bills maturing on 6/30/22 Net cash used in Jamison's 2021 investing activities was a $2,320,000 b. $1,820,000 C. $1,680,000 d. $1,720,000
