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Motorvehicles of Houston. Inc., reported the following financial statements for 2016: (Click the icon to view the income statement) (Click the icon to view the
Motorvehicles of Houston. Inc., reported the following financial statements for 2016: (Click the icon to view the income statement) (Click the icon to view the comparative balance sheets.) Compute the following investing cash flows; enter all amounts in thousands. Acquisitions of plant assets (all were for cash) Motorvehicles of Houston sold no plant assets. Proceeds from the sale of investments. Motorvehicles of Houston purchased no investments. Year Ended December 31, 2016 December 31. 2016 (In thousands) (In thousands) Service revenue $ 750 Assets 2016 2015 Liabilities 2016 2015 Cost of goods sold 300 Current Current: Salary expense 60 Cash $ 22 $ 10 Accounts payable $ 51 $ 44 Depreciation expense 100 Accounts receivable 51 48 Salary payable 29 25 Other expenses 120 Inventory 70 90 Accrued liabilities 10 13 Total expenses 580 Prepaid expenses 7 6 Long-term note payable 60 55 Net income $170 Plant assets, net 225 181 Long-term investments 60 79 Stockholders* Equity Common stock 45 31 Retained earnings 240 246 Total $435 $ 414 Total $ 435 $414
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