Reference no: EM132823501

Problem 1: To the nearest dollar, 2018 net cash flows from operating activities is closest to? investing activities is closest to? and financing activities is closest to?

Net income $300,000
Depreciation expense $72,000
Amortization of Intangible assets $9,000
Gain on sale on long-term assets $5,000
Beginning accounts receivable $351,000
Ending accounts receivable $361,000
Beginning inventory $413, 000
Ending inventory $400,000
Beginning prepaid expenses $34,000
Ending prepaid expenses $30,000
Beginning accounts payable $95,000
Ending accounts payable $116,000
Purchase of long-term assets for cash $503,000
Cash from issuance of long term debt $150,000
Issuance of stock for cash $120,000
Purchase of Treasury stock $61,000
Sale of long-term assets at cost $41,000
Cash dividends $10,000