Following are selected balance sheet accounts of Sheridan Bros. Corp. at December 31, 2020 and 2019,...

Following are selected balance sheet accounts of Sheridan Bros. Corp. at December 31, 2020 and 2019, and the increases or decreases in each account from 2019 to 2020. Also presented is selected income statement information for the year ended December 31, 2020, and additional information.

Selected income statement information for the year ended December 31, 2020:
Selected balance sheet accounts
Assets	2020		2019		Increase (Decrease)
Accounts receivable	$34,000		$24,100		$9,900
Property, plant, and equipment	278,500		249,400		29,100
Accumulated depreciation—plant assets	(176,300	)	(168,400	)	(7,900	)

Liabilities and stockholders’ equity	2020		2019		Increase
Bonds payable	$ 49,000		$45,900		$3,100
Dividends payable	8,000		5,100		2,900
Common stock, $1 par	22,100		18,900		3,200
Additional paid-in capital	9,100		3,000		6,100
Retained earnings	104,600		90,600		14,000

Sales revenue	$154,400
Depreciation	38,100
Gain on sale of equipment	14,700
Net income	30,900

Additional information:

1.		During 2020, equipment costing $45,200 was sold for cash.
2.		Accounts receivable relate to sales of merchandise.
3.		During 2020, $20,100 of bonds payable were issued in exchange for property, plant, and equipment. There was no amortization of bond discount or premium.

Determine the category (operating, investing, or financing) and the amount that should be reported in the statement of cash flows for the following items.

		Activity
(a)	Payments for purchase of property, plant, and equipment.	select a kind of activity FinancingInvestingOperating	$enter a dollar amount
(b)	Proceeds from the sale of equipment.	select a kind of activity FinancingInvestingOperating	$enter a dollar amount
(c)	Cash dividends paid.	select a kind of activity FinancingInvestingOperating	$enter a dollar amount
(d)	Redemption of bonds payable.	select a kind of activity FinancingInvestingOperating	$enter a dollar amount

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ekkarill92 answered 2 years ago

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