Question

The balance sheet data of Pronghorn Company at the end of 2017 and 2016 follow.

		2017			2016
Cash		$29,000			$35,400
Accounts receivable (net)		55,400			44,500
Inventory		64,300			44,600
Prepaid expenses		15,200			25,000
Equipment		90,800			74,800
Accumulated depreciation—equipment		(18,100	)		(8,800	)
Land		79,900			39,600
		$316,500			$255,100
Accounts payable		$63,600			$49,000
Accrued expenses		15,000			18,000
Notes payable—bank, long-term		–0–			22,800
Bonds payable		30,200			–0–
Common stock, $10 par		200,400			160,100
Retained earnings		7,300			5,200
		$316,500			$255,100

Land was acquired for $40,300 in exchange for common stock, par $40,300, during the year; all equipment purchased was for cash. Equipment costing $10,000 was sold for $2,000; book value of the equipment was $5,900. Cash dividends of $9,900 were declared and paid during the year.

Compute net cash provided (used) by:

(a)		Operating activities.
(b)		Investing activities.
(c)		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 select an option                                                          usedprovided by operating activities		$enter a dollar amount
(b)		Net cash select an option                                                          usedprovided by investing activities		$enter a dollar amount
(c)		Net cash select an option                                                          usedprovided by financing activities		$enter a dollar amount

Answer 1