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A comparative balance sheet for Talkington Corporation is presented below. December 31 Assets 2017 2016 Cash $68,000 $22,000 Accounts receivable 82,000 66,000 Inventory 170,000 189,000
A comparative balance sheet for Talkington Corporation is presented below.
| December 31 | ||||
| Assets | 2017 | 2016 | ||
| Cash | $68,000 | $22,000 | ||
| Accounts receivable | 82,000 | 66,000 | ||
| Inventory | 170,000 | 189,000 | ||
| Land | 71,000 | 110,000 | ||
| Equipment | 280,000 | 200,000 | ||
| Accumulated depreciationequipment | (74,000) | (42,000) | ||
| Total | $597,000 | $545,000 | ||
| Liabilities and Stockholders Equity | ||||
| Accounts payable | $34,000 | $47,000 | ||
| Bonds payable | 150,000 | 200,000 | ||
| Common stock ($1 par) | 164,000 | 164,000 | ||
| Retained earnings | 249,000 | 134,000 | ||
| Total | $597,000 | $545,000 | ||
Additional information:
| 1. | Net income for 2017 was $155,000; there were no gains or losses. | ||
| 2. | Cash dividends of $40,000 were declared and paid. | ||
| 3. | Bonds payable of $50,000 were retired. |
Compute each of the following:
| 1. | Net cash provided by operating activities | $ | ||
| 2. | Net cash provided (used) by investing activities | $ | ||
| 3. | Net cash provided (used) by financing activities | $ |
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