Question: For each transaction below, write the net effect on Gross PP&E, Total Assets, Net Income Before Taxes (NIBT), Cash flows from operating activities (CFO), and

  1. For each transaction below, write the net effect on Gross PP&E, Total Assets, Net Income Before Taxes (NIBT), Cash flows from operating activities (CFO), and Cash flows from investing activities (CFI). Write 0 for no effect and use negative numbers to indicate reductions in accounts or cash outflows.

Transaction

PP&E, Gross

Assets (Total)

NI (pretax)

CFO

CFI

Purchased land worth $950

Recognized $80 of depreciation expense

Paid $70 for maintenance of equipment

Paid $125 to improve property

Revised assumption about equipments salvage value

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