Hobby Specialties reported the following at December 31, 2014 (in thousands):

Requirement
1. Determine the following items for Hobby Specialties during 2014:
a. Gain or loss on the sale of property and equipment.
b. Amount of long-term debt issued for something other thancash.

Transcribed Image Text:

A1 2014 2013 From the comparative balance sheet Property and equipment, net Long-term notes payable 10,6009,640 3,000 4400 From the statement of cash flows: Depreciation Capital expenditures Proceeds from sale of property and equipment Proceeds from issuance of long-term note payable Payment of long-term note payable 1,910 4,175 820 1,220 140) 385 8 11 ssuance of common stock