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Paste Ques... AN Forms - Miami-Dad. WJ Coronavirus Updat.. Incorrect Question 48 0/2 pts Assets 2018 2017 Cash Income Statement for 2018 42,000 5 31,000 Accounts Receivable Sales Revenue 380,000 173,000 75,000 Cost of Goods Sold Inventory 75,000 (120,000) 70,000 Long-term Investment Salaries Expense ($5,000) 40.000 15,000 Depreciation Expense (40,000) Building and Equipment 350,000 400,000 Interest Expense (12,000) (Accumulated Depreciation) (1 15,000) (75,000) Loss on Sale of Land (3,000) Land 50.000 59,000 Income Tax Expense (70.000) Total Assets 715,000 5 575,000 Net Income 80.000 Liabilities Accounts Payable 5 28,000 5 35,000 Salaries Payable 2.000 5.000 Interest Payable 5.000 3.000 Income Tax Payable 9.000 12,000 Notes Payable 30,000 Bonds Payable 160,000 100,000 Shareholders' Equity Common Stock, $1 par 255,000 200,000 Paid-in Capital - Excess of par 161,000 100,000 Retained Eamings 95,000 90,000 Total Liabilities and Equity 5 715,000 5 575,000 Additional Information from the accounting records: a. Land that originally cost $9,000 was sold for $6,000. b. The common stock of News Corp. was purchased for $25,000 as a long-term investment. c. New equipment was purchased for $150,000 cash. d. A $30,000 note was paid at maturity on January 1.fiu.instructure.com/courses/66959/quizzes/374567 Type Or Paste Ques... " Forms - Miami-Dad.. LU Coronavirus Updat... a. Land that originally cost $9,000 was sold for $6,000. b. The common stock of News Corp. was purchased for $25,000 as a long-term investment. c. New equipment was purchased for $150,000 cash. d. A $30,000 note was paid at maturity on January 1. e. On January 1, 2018, $60,000 of bonds were sold at face value f. Common stock ($50,000 par) was sold for $76,000. g. In May, Jamaica Inc. issued a 5% stock dividend (5,000 shares). The market price of the $1 par value common stock was $8 per share at that time. h. Net Income was $80,000 and cash dividends of $35,000 were paid to shareholders. The Net cash provided by (or used for) operating activities during 2018 was: $ 79,000 $ 109,000 $ 149,000 $ 76.000