Additional Information:

• During the year, Johnston sold equipment with an original cost of $153,000 and accumulated depreciation of $119,000 and purchased new equipment for $272,000
• Outstanding bonds were paid off, no new bonds were issued.
• Dividends were declared during the year and dividends were paid during the year. You need to work through retained earnings accounts to figure out the amount of dividends declared and the amount of dividends paid. These are different amounts.
• Common stock was sold during the year.
• Taxes paid (cash) during the year were $93,220
• Interest paid (cash) during the year was $42,000

Calculate the following amounts:

6. Cash provided/(used) by operating activities.

7. Proceeds from sale of equipment.

8. Cash provided/(used) by investing activities.

9. Calculate dividends declared during 2018.

10. Calculate cash provided/(used) by financing activities.

(Provide step by step for the "additional information")

Johnston Enterprises Balance Sheet and Income Statement Data 31-Dec-18 31-Dec-17 Current Assets: Cash Accounts Receivable Inventory 153,000 238,000 391,000 782,000 119,000 306,000 340,000 765,000 Total Current Assets Property, Plant, and Equipment Less: Accumulated Depreciation Total Assets 1,241,000 (476,000) 765,000 1,122,000 (442,000) 680,000 Current Liabilities: Accounts Payable Dividends Payable Salaries and wages payable 187,000 51,000 85,000 323,000 102,000 68,000 76,500 246,500 Total Current Liabilities Bonds Payable Total Liabilities 340,000 391,000 663,000 637,500 Stockholders' Equity 510,000 374,000 884,000 1,547,000 467,500 340,000 807,500 1,445,000 Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity Sales Revenue Less Cost of Goods Sold Gross Profit Expenses: 1,615,000 751,000 864,000 1,513,000 731,000 782,000 Depreciation Expense Salaries and Wages Expense Interest Expense Loss on Sale of Equipment 153,000 391,000 34,000 12,000 274,000 110,000 164,000 136,000 357,000 34,000 Income Before Taxes Less Income Tax Expense Net Income 255,000 102,000 153,000