Requirements

Compute the following items for the statement of cash flows:

1.	The beginning and ending Retained earnings balances are $51,000 and $71,000, respectively. Net income for the period is$62,000. How much are cashdividends?
2.	The beginning and ending net Fixed assets balances are $116,000 and $115,000, respectively. Depreciation expense for the period is $16,000, and acquisitions of new fixed assets total $30,000. Fixed assets were sold at a $7,000 loss. What were the cash proceeds of the sale?