K Motorsports of Miami, Inc., reported the following financial statements for 2018: (Click the icon to...

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K Motorsports of Miami, Inc., reported the following financial statements for 2018: (Click the icon to view the income statement.) comparative balance sheets.) (Click the icon to view the Calculate the following investing cash flows; enter all amounts in thousands. a. Acquisitions of plant assets (all were for cash). Motorsports of Miamisold no plant assets during the year. b. Proceeds from the sale of investments. Motorsports of Miamipurchased no investments during the year. a. Compute the acquisitions of plant assets (all were for cash). Motorsports of Miami sold no plant assets during the year. The acquisition of plant assets is $ thousand. Motorsports of Miami, Inc. Income Statement Year Ended December 31, 2018 (in thousands) Service revenue $ 760 Cost of goods sold 390 Salary expense Depreciation expense Other expenses 60 40 120 Total expenses 610 $ 150 Net income Motorsports of Miami, Inc. Comparative Balance Sheets December 31, 2018 and 2017 (In thousands) Assets 2018 2017 Liabilities 2018 2017 Current: Current: Cash 27 $ 15 Accounts payable $ 52 $ Accounts receivable 52 49 Salary payable 33 Inventory 73 81 Accrued liabilities 10 Prepaid expenses 7 6 Long-term note payable 61 7222 2326 47 29 13 52 Plant assets, net 222 187 Long-term investments 53 73 Stockholders' Equity Common stock 50 50 30 228 240 Retained earnings $ 434 $ 411 434 $ 411 Total Total K Motorsports of Miami, Inc., reported the following financial statements for 2018: (Click the icon to view the income statement.) comparative balance sheets.) (Click the icon to view the Calculate the following investing cash flows; enter all amounts in thousands. a. Acquisitions of plant assets (all were for cash). Motorsports of Miamisold no plant assets during the year. b. Proceeds from the sale of investments. Motorsports of Miamipurchased no investments during the year. a. Compute the acquisitions of plant assets (all were for cash). Motorsports of Miami sold no plant assets during the year. The acquisition of plant assets is $ thousand. Motorsports of Miami, Inc. Income Statement Year Ended December 31, 2018 (in thousands) Service revenue $ 760 Cost of goods sold 390 Salary expense Depreciation expense Other expenses 60 40 120 Total expenses 610 $ 150 Net income Motorsports of Miami, Inc. Comparative Balance Sheets December 31, 2018 and 2017 (In thousands) Assets 2018 2017 Liabilities 2018 2017 Current: Current: Cash 27 $ 15 Accounts payable $ 52 $ Accounts receivable 52 49 Salary payable 33 Inventory 73 81 Accrued liabilities 10 Prepaid expenses 7 6 Long-term note payable 61 7222 2326 47 29 13 52 Plant assets, net 222 187 Long-term investments 53 73 Stockholders' Equity Common stock 50 50 30 228 240 Retained earnings $ 434 $ 411 434 $ 411 Total Total