On January 1, 2017, plant assets, net are $220,000.On December 31, 2017, plant assets, net are $280,000. Depreciation expense for the year is $19,000. During the year, plant assets were acquired for $146,000 with cash. There is a Gain on sale of plant asset of $9,000. What are the cash proceeds from the sale of the plant asset? A.)$0 B.)$58,000 C.)$67,000 D.)$76,000

A company reports the following balances:

12/31/2016 (On far left) 12/31/2017 (On far right) Common Stock $14,000 (2016 )$161,000 (2017) Paid-in Capital in Excess of Par 98,000 108,000 Retained Earnings 62,000 76,000

During 2017, dividends of $16,000 were declared and paid. What is net income for 2017? A.)$30,000 B.)$2,000 C.)$16,000 D.)$14,000 During the year, Chappel Engineering Corporation has operating expenses of $51,000. There was an increase in prepaid expenses of $5,000 and an increase in accrued liabilities of $7,000. What were Chappel's cash payments for operating expenses? A.)$49,000 B.)$56,000 C.)$44,000 D.)$58,000