Question: Compute the following items for the cash flow statement: 1. The beginning and ending Retained Earnings balances are $47,000 and $71,000, respectively. Net income for

Compute the following items for the cash flow statement:

1. The beginning and ending Retained Earnings balances are $47,000 and $71,000, respectively. Net income for the period is $93,000. How much are cash dividends?

2. The beginning and ending Plant Assets, Net, balances are $104,000 and $113,000, respectively. Depreciation for the period is $13,000, and acquisitions of new plant assets total $30,000. Plant assets were sold at a $6,000 loss. What were the cash proceeds of the sale?

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