Chariot Corp. had the following information for the year:

	Dec. 31	Jan. 1
Machinery (net)	$ 105	$ 110
Notes Payable	50	42
Common Stock (no par)	10	7
Retained Earnings	75	50

a. During the year, Chariot had depreciation expense of $8 and purchased new machinery for $35. Old machinery was sold at a $4 gain. What was the amount of cash received (proceeds) on the sale of machinery?

b. During the year, Chariot repaid $12 cash on the notes payable. How much debt was taken out in the form of new notes payable?

c. During the year, Chariot issued new common stock for cash. No common stock was retired. How much cash was received on the issue of common stock?

d. During the year, Chariot earned net income and paid cash dividends of $60. How much was Chariots net income for the year?