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Following are selected balance sheet accounts of Del Conte Corp. at December 31, 2021 and 2020, and the increases or decreases in each account from

Following are selected balance sheet accounts of Del Conte Corp. at December 31, 2021 and 2020, and the increases or decreases in each account from 2020 to 2021. Also presented is selected income statement information for the year ended December 31, 2021, and additional information.

Selected Balance Sheet Accounts 2021 2020 Increase (Decrease)
Assets
Accounts receivable $ 50,000 $ 32,000 $ 18,000
Property, plant, and equipment 293,000 255,000 38,000
Accumulated depreciation (194,000 ) (175,000 ) 19,000
Liabilities and Stockholders Equity
Bonds payable 73,000 62,000 11,000
Dividends payable 12,000 8,200 3,800
Common stock, $1 par 38,000 27,000 11,000
Additional paid-in capital 13,000 6,200 6,800
Retained earnings 120,000 99,000 21,000
Selected Income Statement Information for the Year Ended December 31, 2021
Sales revenue $ 171,000
Depreciation 49,000
Gain on sale of equipment 17,000
Net income 44,000

Additional information:

  1. Accounts receivable relate to sales of merchandise.
  2. During 2021, equipment costing $56,000 was sold for cash.
  3. During 2021, bonds payable with a face value of $36,000 were issued in exchange for property, plant, and equipment. There was no amortization of bond discount or premium.

Required: Items 1 through 5 represent activities that will be reported in Del Conte's statement of cash flows for the year ended December 31, 2021. The following two responses are required for each item:

  1. Determine the amount that should be reported in Del Conte's 2021 statement of cash flows.
  2. Select the category (i.e., O - Operating activity, I - Investing activity and F - Financing activity) in which the amount should be reported in the statement of cash flows.

1 Cash collections from customers (direct Method) Amount Category

2 Payments for purchases of property, plant, and equipment Amount Category

3 Proceeds from the sale of equipment Amount Category

4 Cash dividends paid amount category

5 Redemption of bonds payable Amount Category

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