Eastern Corp ​
Additional Information ​
(1) Equipment with a Cost Of

question 111

Essay

Eastern Corp.
Use the following selected data and additional information from the records of Eastern Corp.to answer the questions that follow.
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$\begin{array}{lrr}\text { Bal ance Sheet Data } & \underline{\mathbf{2 0 1 8}} & \underline{\mathbf{2 0 1 7}} \\\hline \text { Accounts receivable } & \$ 36,000 & \$ 42,000 \\\text { Inventories } & 28,000 & 25,000 \\\text { Accounts payable } & 31,000 & 35,000 \\\text { Salaries payable } & 2,000 & 1,000 \\\text { Equipment } & 60,000 & 40,000 \\\text { Accumulated depreciation } & 12,000 & 16,000 \\\text { Bonds payable } & 50,000 & 100,000 \\\text { Common stock } & 150,000 & 100,000 \\\text { Retained eamings } & 38,000 & 20,000\end{array}$ ​
Additional information:
$\begin{array}{lr}\text { Income Statement Data } & \mathbf{2 0 1 8} \\\hline \text { Net sales } & \$ 420,000 \\\text { Cost of goods sold } & 300,000 \\\text { Operating expenses (excluding depreciation expense) } & 84,000 \\\text { Net income } & 30,000 \\\text { Gain on sale of equipment (included in net income above) } & 2,000\end{array}$ ​
(1) Equipment with a cost of $\$ 15,000$ and a book value of $\$ 3,000$ was sold for $\$ 5,000$ during 2018 .
(2) Common stock was issued to retire bonds payable during 2018 .
(3) The only items affecting retained eamings in 2018 were net income and dividends declared and paid. ​
-Review the data for Eastern Corp.
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Required
(A)Prepare the Investing Activities section of a statement of cash flows for 2018 for Eastern Corp.
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(B)Prepare the Financing Activities section of a statement of cash flows for 2018 for Eastern Corp.

Grasp the components and implications of the Affective Events Theory in the workplace.

Comprehend the formation, components, and stability of attitudes.

Identify and differentiate between the components of an attitude.

Analyze the sources from which attitudes are acquired.

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Definitions:

Doctoral Degrees

Advanced academic degrees awarded by universities, signifying mastery and high order of knowledge in a specific field of study.

Death Rate

The ratio of deaths in an area to the population of that area; often expressed per 1000 individuals per year.

College Graduates

Individuals who have completed a degree program at a college or university, often possessing a higher level of knowledge and skills in a specific area of study.

High School Dropouts

Individuals who do not complete their high school education and therefore do not receive a high school diploma.