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

question 42

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 cost of investments purchased during 2014?

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Definitions:

High-Price Policy

A strategy where a firm sets the prices of its products or services higher than its competitors, often to signal higher quality or to cover higher costs.

Nonprice Competition

Competition based on distinguishing one’s product by means of product differentiation and then advertising the distinguished product to consumers.

Independent Pricing

A pricing strategy where prices are set based on internal considerations or costs rather than being influenced by competitors or market prices.

Diagram

A graphical representation used to illustrate relationships, data, or processes in a clear and concise manner.