Jacobson Corporation earned an $84,000 net income during 2014. Machinery was sold for $116,000 and a $24,000 loss on the sale was recorded. Machinery purchases totaled $330,000 including a July purchase for which an $80,000 promissory note was issued. Bonds were retired at their face value, and the issuance of new common shares produced an infusion of cash. Jacobson€™s comparative balance sheets were as follows:

1. What was Jacobson€™s depreciation expense in 2014?
2. What was the amount of cash flow from operating activities?
3. What was the amount of cash flow from investing activities?
4. What was the amount of dividends declared? paid?
5. By what amount would you expect the total inflows of cash to differ from the total outflows of cash?
6. What was the amount of cash flow from financingactivities?

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Jacobson Corporation Comparative Balance Sheet Information (in thousands) December 31 2014 Assets 2013 S 84 196 324 310 1,260 1,350 190 210) $1,666 Liabilities and Equity Accounts payable... Notes payable.. 238 272 32 228 700 314 286 210 20 320 560 270 $1,666