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The following information is available regarding Nikki LTD's activities for 2021: A Plant asset with a book value of $10,000 was sold for $8,000. 10,000
The following information is available regarding Nikki LTD's activities for 2021:
- A Plant asset with a book value of $10,000 was sold for $8,000.
- 10,000 shares of common stock with a stated value of $10 a share were issued for $20 a share during the year.
- The company sustained a net profit for the year of $40,000. Depreciation amounted to $20,000, and a gain of $10,000 was realized on land sale for $40,000 cash.
- During the year, treasury stock costing $50,000 was purchased.
Question:
How much is the total net change in cash for the year?
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