The following information is available for X Corporation for the year ended December 31, 2021:

(Use next page for worksheet):

Sale of equipment for cash $57,000

Acquisition of equipment for cash 10,000

Issuance of common stock for cash 20,000

Depreciation expense 25,000

Payment of cash dividends 48,000

Net income 30,000

In addition, the following information is available from the comparative balance sheet for Mehring at the end of 2021 and 2020:

2021 2020

Cash $102,000 $34,000

Accounts receivable (net) 25,000 15,000

Prepaid insurance 19,000 13,000

Total current assets $146,000 $62,000

Accounts payable $ 30,000 $19,000

Salaries payable 6,000 7,000

Total current liabilities $ 36,000 $26,000

Problem 1.

• Cash from Operating Activities is:
  1. +$30,000
  2. ($55,000)
  3. +$68,000
  4. +49,000

Problem 2.

Cash from Investing Activities is:

1. +$12,000
2. +$47,000
3. ($10,000)
4. +$68,000

Problem 3.

Cash from Financing Activities is:

1. ($28,000)
2. +$68,000
3. ($34,000)
4. +$30,000