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4) The starting and ending balances for relevant asset and liability accounts that changed during the year are presented below. Net income was $650,000
4) The starting and ending balances for relevant asset and liability accounts that changed during the year are presented below. Net income was $650,000 for the year and dividends paid were $150,000. Depreciation expense for 2020 was $7,000, and all other changes in accumulated depreciation and property, plant, and equipment related to the sale of property at book value. No other non-cash transactions occurred. Use this information to calculate the net cash inflows (outflows) from investing and financing activities in 2020. 17261 16 540 721 Beginning Ending Short-term notes receivable $40,000 $45,000 Bonds receivable 50,000 150,000 Property, plant, and equipment 850,000 825,000 Accumulated depreciation 10,000 16,000 Short-term notes payable 237,000 187,000 Bonds payable 350,000 500,000 Contributed capital 400,000 480,000
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