The balance sheet data of Brown Company at the end of 2020 and 2019 follow.

Land was acquired for $30,000 in exchange for common stock, par $30,000, during the year; all equipment purchased was for cash. Equipment costing $10,000 was sold for $3,000; book value of the equipment was $6,000. Cash dividends of $10,000 were declared and paid during the year.

Instructions

Compute net cash provided (used) by:

a. Operating activities.

b. Investing activities.

c. Financing activities.

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2020 2019 $ 30,000 $ 35,000 Cash Accounts receivable (net) 55,000 45,000 Inventory Prepaid expenses Equipment Accumulated depreciation-equipment 65,000 45,000 15,000 25,000 90,000 75,000 (18,000) (8,000) Land 70,000 40,000 $307,000 $257,000 $ 65,000 $ 52,000 Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings 15,000 18,000 -0- 23,000 30,000 -0- 189,000 159,000 8,000 5,000 $307,000 $257,000