during the last year, Sigma Co had Net Income of $142, pad $19 in dividends, and

1. ENDING EQUITY = BEGINING EQUITY +NET EARNINGS -DIVIDEND +NEW ISSUE = $690+$142-$19+$38=$851

ID: 2632269 • Letter: D

Question

during the last year, Sigma Co had Net Income of $142, pad $19 in dividends, and sold new stock for $38. Beginning equity for the year was $690. Ending equity was
Brigton Corp. bought an oil rig exactly 6 years ago for $110,000,000. Brighton depreciates oil rigs straight line over 10 years assuming no salvage value. The rig was just sold to British Petroleum for $28,000,000. What Capital Gain/Loss will Brighton report on the transaction
Walker Corporation conducted the following activities during 2001: (1) they sold 10,000 shares of their own stock for $15.00 per share; (2) they issued bonds for which they received $498,000; (3) they paid dividends to their stockholders totaling $85,000; (4) they sold a piece of equipment for $50,000 that they were carrying on their books for $20,000; (5) they earned net income of $140,000. What would be shown on the statement of cash flows for

ENDING EQUITY = BEGINING EQUITY +NET EARNINGS -DIVIDEND +NEW ISSUE

= $690+$142-$19+$38=$851

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