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The balance sheet data of Sunland Company at the end of 2017 and 2016 follow. Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment
The balance sheet data of Sunland Company at the end of 2017 and 2016 follow. Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land 2017 $28,700 55,200 64,600 15,100 90,900 (17,900) 80,000 $316,600 $64,100 15,200 -0- 30,000 199,700 7,600 $316,600 2016 $35,200 45,500 44,600 24,700 74,600 (8,600) 40,300 $256,300 $50,800 17,900 22,900 -0- 160,000 4,700 $256,300 Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings Land was acquired for $39,700 in exchange for common stock, par $39,700, during the year; all equipment purchased was for cash. Equipment costing $10,000 was sold for $2,000; book value of the equipment was $6,000. Cash dividends of $9,900 were declared and paid during the year. Compute net cash provided (used) by: (a) (b) (c) Operating activities. Investing activities. Financing activities. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) (a) Net cash provided by operating activities $ (b) Net cash used by investing activities $ (c) Net cash used by financing activities
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