Question

Please answer These questions

18) Blue Sky Company reported net income of $520,000 for the year ended 12/31/21. Included in the computation of net income were: amortization of a patent, $40,000; income from an investment in common stock of Grape Inc., accounted for under the equity method, $62,000; and amortization of a bond discount, $17,000. Blue Sky also paid a $50,000 dividend during the year. The net cash provided (used) by operating activities would be reported at ______

19) XYZ, Inc. reported net income of $65,000 for the year ended December 31, 2021. Included in net income were depreciation expense of $20,000 and a gain on sale of equipment of $5,400. The equipment had an historical cost of $70,000 and accumulated depreciation of $55,000. Each of the following accounts increased during 2021:

Land $13,000

Prepaid rent $13,600

Available-for-sale securities $3,000

Prepaid expense $20,000

What is the amount of cash provided by or used by investing activities for XYZ, Inc. for the year ended December 31, 2021?

Answer 1

Solution :

18).

19).