Use the information below for ABC Co. to answer the following questions.

Balance Sheet December 31

2005 2004

Assets

Cash $ 20,000 $ 10,000

Accounts receivable 160,000 110,000

Inventories 80,000 50,000

Prepaid Rent 15,000 10,000

Investments 100,000 75,000

Plant assets 210,000 250,000

Accumulated depreciation (65,000) (60,000)

Total $520,000 $445,000

Liabilities and Stockholders' Equity

Accounts payable $ 50,000 $ 40,000

Interest payable 20,000 5,000

Income tax payable 5,000 10,000

Note payable 130,000 140,000

Common stock 155,000 100,000

Retained earnings 160,000 150,000

Total $520,000 $445,000

Income Statement

For the Year Ended December 31, 2005

Sales $800,000

Cost of goods sold 480,000

Gross Profit 320,000

Operating expenses (including Depreciation Expense) 120,000

Interest expense 20,000

Income tax expense 25,000

Total 165,000

Income before Gains and Losses 155,000

Gain on sale of plant assets 5,000

Net income $ 160,000

Additional information:

Accounts payable pertain to the purchase of inventory.

Plant assets were sold for $40,000. The cost of the plant assets was $40,000.

All dividends are cash.

For the year 2005

1. Cash paid for income taxes is:

2. Cash provided by/(used in)*operating activities is:

3. Cash provided by/(used in)*investing activities is:

4. Cash paid for dividends is:

5. Cash provided by/(used in)*financing activities is:

If your answer is cash used in, you must indicate this by writing your answer in parenthesis. For example, ($10,000). If your answer is cash provided by, you must write your answer without parentheses.

Refer to the balance sheet and income statement for ABC Co.:

6. If Rent Expense for the period was $20,000, the Cash paid for Prepaid Rent is: