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Cygnus Corp has prepared the following comparative balance sheet statements for 2017 and 2018: Cash Accounts Receivable Inventory Prepaid Expenses Plant Assets Accumulated Depreciation Patent
Cygnus Corp has prepared the following comparative balance sheet statements for 2017 and 2018: Cash Accounts Receivable Inventory Prepaid Expenses Plant Assets Accumulated Depreciation Patent 2018 327,000 177,000 111,000 23,000 1,433,000 (474,000) 203,000 1,800,000 2017 53,000 96,000 132,000 37,000 1,272,000 (317,000) 227,000 1,500,000 Accounts Payable Accrued Liabilities Loan Payable Preferred Stock Additional Paid-in Capital - Preferred Common Stock 51,000 63,000 50,000 338,000 102,000 574,000 77,000 41,000 300,000 124.000 36.000 574,000 100% 1,800,000 1,500,000 Accounts Payable Accrued Liabilities Loan Payable Preferred Stock Additional Paid-in Capital - Preferred Common Stock Retained Earnings 51,000 63,000 50,000 338,000 102,000 574,000 622,000 1,800,000 77,000 41,000 300,000 124,000 36,000 574,000 348,000 1,500,000 The Accumulated Depreciation account has been credited only for the depreciation expense for the period. The Retained Earnings account has been charged for dividends of $120,000 and credited for the net income for the year. The income statement for the year 2018 is as follows: Sales Revenue Cost of Sales Gross Profit Operating Expenses Net Income 1,357,000 572,000 785,000 391,000 394,000 What is the net ded by operating activities? 17 pointsl Sales Revenue Cost of Sales Gross Profit Operating Expenses Net Income 1,357,000 572,000 785,000 391,000 394,000 a) What is the net cash provided by operating activities? [7 points] A b) What is the total used in investing activities? [4 points] A c) What is the net cash A provided by financing activities? [7 points)
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