Question: Below are balance sheet and income statement data for Howard Bannister Company. Note: For the balance sheet data, the end-of-year information is in the left

Below are balance sheet and income statement data for Howard Bannister Company. Note: For the balance sheet data, the end-of-year information is in the left column.

Balance Sheet Data

20X2 20X1
Accounts Payable 165 95
Accumulated Depreciation 520 339
Cash 200 100
Common Stock 1,000 700
DIVIDENDS PAYABLE 40 25
Equipment 2,700 2,395
Income Tax Payable 100 135
Inventory 1,120 890
Mortgage Payable 900 1,265
Prepaid General Expenses 300 350
Retained Earnings (ending balance, after closing) 1,545 1,098
Unearned Sales Revenue 50 78

Income Statement Data (for 20X2)

Sales 10,000
Cost of Goods Sold 6,000
General Expenses 2,000
Depreciation Expense 330
Loss on Sale of PPE 100
Income Tax Expense 700
Total Expenses 9,130
Net Income 870

Additional Information:

a. Equipment with a (net) book value of $300 was sold during 20X2.

b. All accounts payable relate to inventory purchases.

c. Equipment costing $160 was purchased with a mortgage during 20X2. This fact is already reflected in the balance sheet numbers reported above. All other purchases of Equipment in 20X2 were cash transactions.

Compute the total CASH FROM OPERATING ACTIVITIES in 20X2

$1,183

$1,200

$1,300

$927

$697

$1,027

$1,127

$1,227

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