Question

The balance sheet data of Ke Company at the end of 2020 and 2019 follow:

	2020	2019
Cash	$100,000	$140,000
Accounts Receivable (net)	240,000	180,000
Inventory	280,000	180,000
Prepaid expenses	40,000	100,000
Buildings and equipment	360,000	300,000
Accumulated depreciation - buildings and equipment	(72,000)	(32,000)
Land	360,000	160,000
Total Assets	$1,308,000	$1,028,000
Accounts payable	$272,000	$220,000
Accrued expenses	48,000	72,000
Mortgage payable	120,000	160,000
Common stock, $10 par	836,000	636,000
Retained earnings	32,000	(60,000)
Total liabilities and equity	$1,308,000	$1,028,000

All equipment and land were purchased with cash. Equipment costing $20,000 was sold for $8,000; book value of the equipment was $16,000 and the loss was reported as an ordinary item in net income. Cash dividends of $30,000 were charged to retained earnings and paid during the year; the transfer of net income to retained earnings was the only other entry in the Retained Earnings account.

Provide:

Depreciation expense: $  

The net cash provided (used) by operating activities: $  

The net cash provided (used) by investing activities: $  

The net cash provided (used) by financing activities: $  

Answer 1