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Below are balance sheet and income statement data for Howard Bannister Company. Note: For the balance sheet data, the end-of-year information is in the column
Below are balance sheet and income statement data for Howard Bannister Company. Note: For the balance sheet data, the end-of-year information is in the column Balance Sheet Data 20X2 20X1 520 Accounts Payable Accumulated Depreciation Cash Common Stock DIVIDENDS PAYABLE Equipment Income Tax Payable 1.000 40 2,700 2.395 135 100 Inventory 1345 Mortgage Payable Prepaid General Expenses Retained Earnings (ending balance, after closing) Uncamed Sales Revenue 1.120 900 300 1545 1.099 50 Income Statement Data (for 20X2) Sales 10.000 6,000 2.000 Cost of Goods Sold General Expenses Depreciation Expense Loss on Sale of PPE Income Tax Expense Total Expenses Net Income 100 9,130 Additional Information: a. Equipment with a (net) book value of $300 was sold during 20X2 b. All accounts payable relate to inventory purchases c. Equipment costing $160 was purchased with a mortgage during 20X2. This fact is already reflected in the balance sheet numbers reported above. All other purchases of Equipment in 20X2 were cash transactions Compute the total CASH FROM INVESTING ACTIVITIES in 20X2 net inflow of $300 net outflow of $343 net outflow of $305 net outflow of $354 net outflow of $394 net inflow of $55 net outflow of $554 net outflow of $105
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