Question 4 0.88/1 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. Following are selected balance sheet accounts of Kingbird Bros. Corp. at December 31, 2020 and 2019, and the increases or decreases in each account from 2019 to 2020. Also presented is selected income statement information for the year ended December 31, 2020, and additional information. Selected balance sheet accounts Assets 2020 Increase (Decrease) 2019 Accounts receivable $34,200 $24,200 $10,000 Property, plant, and equipment 274,900 249,200 25,700 Accumulated depreciation-plant assets (179,600) (167,900) (11,700) Liabilities and stockholders' equity 2020 2019 Increase Bonds payable $ 49,300 $45,800 $3,500 Dividends payable 2,800 Common stock, $1 par 3,200 7,900 22,200 9,000 104,200 5,100 19,000 2,900 91,900 Additional paid-in capital 6,100 Retained earnings 12,300 Selected income statement information for the year ended December 31, 2020: Sales revenue $154,300 Depreciation 37,600 Gain on sale of equipment 14,500 Net income 31,300 Additional information: 1. During 2020, equipment costing $44,700 was sold for cash. 2. Accounts receivable relate to sales of merchandise. 3. During 2020, $20,100 of bonds payable were issued in exchange for property, plant, and equipment. There was no amortization of bond discount or premium. Determine the category (operating, investing, or financing) and the amount that should be reported in the statement of cash flows for the following items. Activity (a) Payments for purchase of property, plant, and equipment. Investing $ -50300 (b) Proceeds from the sale of equipment. Investing 33300 (c) Cash dividends paid. Financing (d) Redemption of bonds payable. Financing $ -16600