Score: 0 of 1 pt 8 of 16 (7 complete) S13-5 (similar to) Sherman Company reported the following financial statements for 2016 and 2017: Click the icon to view the income statement.) Click the icon to view the comparative balance sheet.) Compute the following investing cash flows: a. Purchases of plant assets (all were for cash). There were no sales of plant assets. b. Proceeds from the sale of investments. There were no purchases of investments. a. Compute the investing cash flows from purchases of plant assets (all were for cash). There were no sales of plant assets. First enter the formula, and then compute the purchases of plant assets (all were for cash). (For amounts with a $0 balance, make sure to enter "O" in the appropriate coll) Purchases of plant assets Choose from any drop-down list and then click Check Answer. 3 parts remaining Clear All i Income Statement statements for (Click the ice ere were no sald ere no purchase Sherman Company Income Statement For The Year Ended December 31, 2017 ms of plant assets Sales revenues mases of plant as $ 4,800,000 2,870,000 cell.) 1,930,000 Less: Cost of goods sold Gross profit Less operating expenses: Salaries and wages expense Insurance expense Depreciation expense 350.000 18,000 73,000 122,000 563,000 Other operating expenses Total operating expenses Operating income Plus other income and less other expenses: 1,367,000 Interest expense 6,200 Check Answer. Print Done 1 Balance Sheet statements for 20 (Click the icos ere were no sales are no purchases Sherman Company Comparative Balance Sheets December 31, 2017 and 2016 Assets 2017 s of plant assets 2016 ases of plant ass e cell.) Current assets: Cash $ 584,000 $ Accounts receivable Inventory Prepaid insurance Total current assets 71,000 910,000 4,000 470,000 15,000 260,000 4,000 $ 1,569,000 $ 749,000 Property, plant, and equipment Less: Accumulated depreciation $ 1,220,000 $ 1,190,000 (280,000) (207,000) 43,000 61,000 Investments $ Total assets 2,552,000 $1,793,000 Check Answer Print Done