Maritime Marine Services
Selected Data from the Financial Statements for the Years

question 67

Essay

Maritime Marine Services
Selected data from the financial statements for the years ended December 31,2014 and 2013,are presented below:
$\begin{array}{lll} \text { (in thousands) }&\underline{ 2014 }&\underline{ 2013 }\\\text { Property, plant and equipment } &\$ 14,100 & \$ 12,20 \\\text { Accumulated depreciation } &4,900 & 4,700 \\\text { Investuments } &450 & 240 \\\text { Short-term debt } &55 & 57 \\\text { Long-term debt } &1,500 & 1,200 \\\text { Common stock } &597 & 567 \\\text { Treasuy-common stock } &(21) & (21) \\\text { Retained earnings } &3,522 & 3,426 \\\text { Net income } &770 & 713\end{array}$
-The following additional information was obtained from the company's records:
1. Cash additions to property, plant, and equipment during 2014 were $\$ 2,300$ . An additional $\$ 250$ of plant assets were acquired through debt in a noncash transaction. Depreciation expense for 2014 was $\$ 400$ . Gains on disposals of property, plant and equipment during 2014 were $\$ 40$ .
2. The cash proceeds from the sale of investments in 2014 was $\$ 120$ . There was a $\$ 30$ gain on the sale of the investments.
3. Proceeds from long-term debt issued during 2014 was $\$ 200$ .
4. The issuance of common stock totaled $\$ 30$ in 2014 . Refer to Maritime Marine Services.What was the amount of accumulated depreciation on the property,plant and equipment disposed of during 2014?

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Definitions:

Age At First Reproduction

The age at which an organism successfully produces offspring for the first time, an important life-history trait affecting fitness and evolution.

Offspring Number

The total count of new organisms produced or born to parent organisms within a given time frame.

Male Pipefishes

Members of the Syngnathidae family, unique for their role in childbearing, as males carry and nourish embryos in a specialized pouch.

Optimal Investment

The most efficient allocation of resources or capital to achieve the highest possible return or benefit, considering the level of risk involved.