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This year ABC Company reported net property, plant, and equipment (PP&E) of $15,217 after having reported net PP&E of $10,090 last year. During the year
This year ABC Company reported net property, plant, and equipment (PP&E) of $15,217 after having reported net PP&E of $10,090 last year. During the year the company sold PP&E with a net book value of $1,303 for $1,418. ABC also charged $7,657 in depreciation expenses against its earnings. How much did ABC spend to acquire PP&E during the year? Assume that all new PP&E was acquired for cash. Note that your answer will represent a cash outflow for purchasing new PP&E, but you should present your result as a positive value.
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