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

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

	2017		2016
Cash	$29,000		$34,900
Accounts receivable (net)	55,200		44,900
Inventory	64,900		44,600
Prepaid expenses	15,100		24,900
Equipment	90,100		75,600
Accumulated depreciation—equipment	(18,200	)	(7,200	)
Land	80,600		39,800
	$316,700		$257,500
Accounts payable	$67,200		$53,300
Accrued expenses	14,800		17,900
Notes payable—bank, long-term	–0–		23,000
Bonds payable	29,700		–0–
Common stock, $10 par	198,700		157,900
Retained earnings	6,300		5,400
	$316,700		$257,500

Land was acquired for $40,800 in exchange for common stock, par $40,800, during the year; all equipment purchased was for cash. Equipment costing $10,100 was sold for $2,200; book value of the equipment was $6,000. Cash dividends of $10,000 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 used or provided by operating activities	$enter a dollar amount
(b)	Net cash select an option used or provided by investing activities	$enter a dollar amount
(c)	Net cash select an option provided or used by financing activities	$enter a dollar amount

Expert Solution

ekkarill92 answered 3 years ago

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