Reference no: EM132465764

Below is the balance sheet of Brown Inc. for the years 2017 and 2018.

                                            December 31, 2018              Dec. 31, 2017

Cash                                           $ 6,000                           $ 9,000

Accounts receivable .........          8,000                             12,000

Merchandise inventory ...               29,000                          18,000

Prepaid rent .....................             6,000                             4,000

Equipment ...........................            100,000                            80,000

Accumulated depreciation ......            (28,000)                        (13,000)

Total assets ...........................           $121,000                        $110,000

Accounts payable .................               $ 9,000                            $ 25,000

Dividends payable ..................               6,000                                 4,000

Common stock ........................             35,000                              30,000

Additional Paid in Capital, common stock        3000                               2000

Retained earnings                                   68,000                                49,000

Total liabilities and stockholders' equity $121,000 $110,000

Other information:

• No equipment was sold or retired during 2018. Brown's net income for 2018 was $53,000.

Use the information above & calculate:

Question a. The amount of depreciation expense charged/recognized for the year 2018

Question b. How of much cash was paid for depreciation in 2018?

Question c. How much was the amount of dividends declared & paid during the year 2018?

Question d. Did Brown Inc. issue any new shares in 2018? If yes, how much money was raised from the issuance of the new shares?