QUESTION 9 Below are balance sheet and income statement data for Howard Bannister Company. Note: For the balance sheet data, the end-of-year information is in the left column. Balance Sheet Data 20X2 20X1 Accounts Payable................................................................................................ 95............................................................. 165 Accumulated Depreciation................................................................................ 520 ...........................................................339 Cash ................................................................................................................ 130 ..........................................................100 Common Stock .............................................................................................. 1,000......................................................... 700 DIVIDENDS PAYABLE......................................................................................... 40............................................................ 25

Equipment......................................................................................................... 2,395....................................................... 2,700 Income Tax Payable ..........................................................................................100............................................................ 135 Inventory.......................................................................................................... 1,120........................................................... 890 Mortgage Payable.............................................................................................. 900......................................................... 1,500 Prepaid General Expenses............................................................................... 300............................................................. 350 Retained Earnings (ending balance, after closing)...................................... 1,240...................................................... 1,098 Unearned Sales Revenue.................................................................................. 50............................................................ 78 Income Statement Data (for 20X2) Sales ................................................................................................................................... 10,000 Cost of Goods Sold............................................. 6,000 General Expenses............................................... 2,000 Depreciation Expense........................................... 330 Loss on Sale of PPE................................................ 100 Income Tax Expense............................................. 700 Total Expenses 9,130 Net Income............................................................................................................................... 870 Additional Information: a. Equipment with a (net) book value of $300 was sold during 20X2. b. All accounts payable relate to inventory purchases. c. Equipment costing $60 was purchased with a mortgage during 20X2. This fact is already reflected in the balance sheet numbers reported above. All other purchases of Equipment in 20X2 were cash transactions. Part 1: Compute the amount of Cash Paid for Inventory Purchases in 20X2. Part 2: Compute the total CASH FROM OPERATING ACTIVITIES in 20X2. Part 3: Compute the total CASH FROM INVESTING ACTIVITIES in 20X2. Part 4: Compute the CASH PAID FOR DIVIDENDS in 20X2.