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Kentucky Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Sales Revenue $249,000   Interest Revenue 2,300   Gain on Sale of Plant Assets 5,300   Total Revenues and Gains   $256,600 Cost of Goods Sold 124,000   Salary Expense 43,000   Depreciation Expense 14,000   Other Operating Expenses 20,000   Interest Expense 1,600   Income Tax Expense 5,100   Total Expenses   207,700 Net Income (Loss)   $48,900 Additional information provided by the company includes the following: Current assets, other than cash, increased by $21,000. Current liabilities decreased by $1200.   Compute the net cash provided by (used for) operating activities.

Preferred stock is stock ________. 

Reunion Corporation provides the following information.      March 31, 2018    March 31, 2019 Net Income $358,000 $425,500 Preferred Dividends 0 0 Total Stockholders’ Equity $4,380,000 $5,132,000 Stockholders’ Equity attributable to Preferred Stock 0 0 Number of Common Shares Outstanding 294,464 195,168 Based on the information provided above, compute the earnings per share of Reunion Corporation as of March 31, 2019. 

Which of the following is a cash outflow for a financing activity on the statement of cash flows? 

The ________ section of the statement of cash flows includes increases and decreases in long-term assets. 

Assume the following information for Western Sales, Inc.:   Common Stock, $1.00 par, 232,000 shares issued, 185,000 shares outstanding Paid-In Capital in Excess of Par—Common: $1,690,000 Retained Earnings: $2,460,000 Treasury Stock: 47,000 shares purchased at $17 per share   If Western Sales purchases an additional 8,000 shares of treasury stock at $20 per share, what number of shares will be shown as issued and outstanding?  

In preparing a statement of cash flows using the indirect method, the Depreciation Expense 

Connecticut, Inc. uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet:                                                                                Connecticut, Inc.                                                                      Comparative Balance Sheet                                                                    December 31, 2019 and 2018   2019 2018 Increase/(Decrease) Cash $25,000 $22,000 $3,000 Accounts Receivable 31,000 38,000 (7,000) Merchandise Inventory 55,000 26,000 29,000 Plant and Equipment 124,000 93,000 31,000 Accumulated Depreciation-Plant and Equipment (47,000) (43,000) (4,000) Total Assets $188,000 $136,000 $52,000 Additional information provided by the company includes the following: Equipment was purchased for $67,000 with cash. Equipment with a cost of $36,000 and accumulated depreciation of $7300 was sold for $48,000. What was the amount of net cash provided by (used for) investing activities? 

Refer to the following information for Tolan Corporation:   Common Stock, $1.00 par, 106,000 shares issued, 100,000 shares outstanding Paid-In Capital in Excess of Par—Common: $2,190,000 Retained Earnings: $920,000 Treasury Stock: 6000 shares purchased at $21 per share   If Tolan resold 2,500 shares of treasury stock for $22.50 per share, which of the following statements would be true?  

May, Inc. had the following transactions in 2019, its first year of operations:   Issued 20,000 shares of common stock. The stock has a par value of $3.00 per share and was issued at $19.00 per share. Issued 2000 shares of $200 par value preferred stock at par. Earned net income of $40,000. Paid no dividends.   At the end of 2019, what is the total amount of paid-in capital?