Data Table Net Sales Revenue $ 236,000 97,000 Cost of Goods Sold Gross Profit 139,000 Operating Expenses. Salaries Expense $ 52,000 23,000 Depreciation Expense-Plant Assets 75,000 Total Operating Expenses 64.000 Net Income Before Income Taxes Data Table Gross PTOTIC T39,000 Operating Expenses. Salaries Expense $ 52,000 23,000 Depreciation Expense-Plant Assets Total Operating Experrses 75,000 Net Income Before Income Taxes 64,000 8,000 Income Tax Expense $ 56,000 Net Income More Info a. Acquisition of plant assets is $120,000. Of this amount, $109,000 is paid in cash and $11,000 by signing a note payable. b. Cash receipt from sale of land totals $22,000. There was no gain or loss. Cash receipts from issuance of common stock total $31,000] d. Payment of note payable is $10,000. e. Payment of dividends is $7,000 f. From the balance sheet: C. September 30 2018 2017 > AAAAA 1 More Info September 30 2018 2017 Cash Accounts Receivable Merchandise Inventory $ 30,000 $ 7,000 45,000 55,000 99,000 ,000 75,000 97000 150,000 30,000 (33,000) (10,000) Land Plant Assets Accumulated Depreciation More Info VIVE WHO Land Plant Assets Accumulated Depreciation Accounts Payable Accrued Liabilities Notes Payable (long-term) Common Stock, no par Retained Earnings 75,000 97 000 150,000 30,000 (33,000) (10,000) 38,000 24,000 11,000 16 000 11,000 10,000 12,000 43,000 263,000 214,000 Balance Transaction Analysis Balance Panel A Balance Sheet: 9/30/2017 DEBIT CREDIT Cash S 7,000 55,000 Accounts Receivable Merchandise Inventory Plant Assets 9/30/2018 30,000 45,000 99,000 150,000 97,000 30,000 Accumulated Depreciation Plant Assets (10,000) Land 97,000 (33.000) 75,000 366,000 Total Assets $ 276,000 Accounts Payable Accrued Liabilities Notes Payable Total Liabilities 24,000 16,000 10.000 38,000 11,000 11,000 50.000 60,000 Common Stock, no par Retained Earnings 12,000 214.000 43,000 263,000 366,000 Total Liabilities and Stockholders' Equity $ 276,000 $ Panel B Statement of Cash Flows: Panel B_Statement of Cash Flows: Cash Flows from Operating Activities (a) Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities (b) (c) (d) (e) (0) Net Cash Provided by Operating Activities Cash Flows from Investing Activities (91) (h) Net Cash Used for Investing Activities Cash Flows from Financing Activities 0 6) 3 Net Cash Used for Financing Activities Non-cash Investing and Financing Activities