Question #8.

Below is the balance sheet of Brown Inc. for the years 2017 and 2018.

	December 31, 2018	Dec. 31, 2017
Cash .	$ 6,000	$ 9,000
Accounts receivable ..	10,000	12,000
Merchandise inventory .	29,000	18,000
Prepaid rent	6,000	4,000
Equipment ..	110,000	90,000
Accumulated depreciation	(40,000)	(23,000)
Total assets	$121,000	$110,000
Accounts payable .	$ 9,000	$ 25,000
Dividends payable	6,000	4,000
Common stock .	38,000	30,000
Additional Paid in Capital, common stock Retained earnings	9,000 59,000	2,000 49,000
Total liabilities and stockholders equity	$121,000	$110,000

Other information:

No equipment was sold or retired during 2018. Browns net income for 2018 was $83,000.

Use the information above & calculate:

1. Did Brown Inc. buy any equipment in 2018? How much?
2. Determine the amount of depreciation expense charged/recognized for the year 2018
3. How of much cash was paid for depreciation in 2018?
4. How much was the amount of dividends declared & paid during the year 2018?