Following are selected balance sheet accounts of Larkspur Bros. Corp. at December 31, 2017 and 2016, and the increases or decreases in each account from 2016 to 2017. Also presented is selected income statement information for the year ended December 31, 2017, and additional information. Selected balance sheet accounts
Assets 2017 2016 Increase
(Decrease)
Accounts receivable $34,200 $23,800 $10,400
Property, plant, and equipment 277,400 246,200 31,200
Accumulated depreciation—plant assets (177,000) (167,300) (9,700)
Liabilities and stockholders’ equity
2017 2016 Increase
Bonds payable $ 48,600 $45,600 $3,000
Dividends payable 8,000 5,000 3,000
Common stock, $1 par 21,900 18,800 3,100
Additional paid-in capital 9,100 3,000 6,100
Retained earnings 104,100 91,100 13,000
Selected income statement information for the year ended December 31, 2017:
Sales revenue $155,600
Depreciation 38,200
Gain on sale of equipment 14,600
Net income 31,300
Additional information:
1. During 2017, equipment costing $44,800 was sold for cash.
2. Accounts receivable relate to sales of merchandise.
3. During 2017, $20,000 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.
Exercise 23-10 Following are selected balance shee
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Exercise 23-10 Following are selected balance shee
(b) Proceeds from the sale of equipment.
Exercise 23-10 Following are selected balance shee
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Exercise 23-10 Following are selected balance shee
(c) Cash dividends paid.
Exercise 23-10 Following are selected balance shee
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Exercise 23-10 Following are selected balance shee
(d) Redemption of bonds payable.
Exercise 23-10 Following are selected balance shee
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Exercise 23-10 Following are selected balance shee