Anderson Corporation had $400,000 in the bank at the end of the prior year, and its working capital accounts except cash and notes payable remained constant during the year Notes payable increased by $50,000 It earned $3 million in net income during the year but paid $2,750,000 in dividends to common shareholders Throughout the year, the firm sold $2 2 million of machinery that was no longer needed Anderson Corporation had an annual depreciation expense for the year of $550,000 note that the $2 2 million sale amount for the machinery above represents a change to property, plant, and equipment before depreciation Finally, you have determined that the only long term financing done by the firm was to issue long term debt of $150,000 at a 4 interest rate a What was the firm's end of year cash balance Recreate the firm's cash flow statement to arrive at your answer b If instead, the sale amount for the machinery above represented a change to property, plant, and equipment after depreciation, what would have been your cash flow from investing activity Anderson Corporation had $400,000 in the bank at the end of the prior year, and its working capital accounts except cash and notes payable remained constant during the year Notes payable increased by $50,000 It earned $3 million in net income during the year but paid $2,750,000 in dividends to common shareholders Throughout the year, the firm sold $2 2 million of machinery that was no longer needed Anderson Corporation had an annual depreciation expense for the year of $550,000 note that the $2 2 million sale amount for the machinery above represents a change to property, plant, and equipment before depreciation Finally, you have determined that the only long term financing done by the firm was to issue long term debt of $150,000 at a 4 interest rate a What was the firm's end of year cash balance Recreate the firm's cash flow statement to arrive at your answer b If instead, the sale amount for the machinery above represented a change to property, plant, and equipment after depreciation, what would have been your cash flow from investing activity

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Anderson Corporation had $400,000 in the bank at the end of the prior year, and its working capital accounts except cash and notes payable remained

Anderson Corporation had $400,000 in the bank at the end of the prior year, and its working capital accounts except cash and notes payable remained constant during the year. Notes payable increased by $50,000. It earned $3 million in net income during the year but paid $2,750,000 in dividends to common shareholders. Throughout the year, the firm sold $2.2 million of machinery that was no longer needed. Anderson Corporation had an annual depreciation expense for the year of $550,000; note that the $2.2 million sale amount for the machinery above represents a change to property, plant, and equipment before depreciation. Finally, you have determined that the only long-term financing done by the firm was to issue long-term debt of $150,000 at a 4% interest rate. a. What was the firm's end-of-year cash balance? Recreate the firm's cash flow statement to arrive at your answer. b. If instead, the sale amount for the machinery above represented a change to property, plant, and equipment after depreciation, what would have been your cash flow from investing activity?