Compute the following items for the statement of cash flows:
a. Beginning and ending Plant Assets, Net, are $102,000 and $97,000, respectively. Depreciation for the period was $12,000, and purchases of new plant assets were $30,000. Plant assets were sold at a $5,000 gain. What were the cash proceeds of the sale?
b. Beginning and ending Retained Earnings are $46,000 and $70,000, respectively. Net income for the period was $48,000, and stock dividends were $11,000. How much were cash dividends?