investing activities section the following information is from the noncurrent asset 1571762

Investing Activities Section . The following information is from the noncurrent asset portion of Gebhardt Company’s balance sheet.

The following activities occurred during 2012:

o Sold equipment with a book value of $4,000 (= $90,000 cost − $86,000 accumulated depreciation) for $9,000 cash and depreciation expense for the year totaled $71,000 o Purchased equipment for $50,000 cash

o Loans totaling $62,000 were made to other entities during the year (Hint: Solve for the principal amount on loans collected during the year.)

o Purchased long-term investments for $16,000 cash Required:

e. Prepare the investing activities section of the statement of cash flows for Gebhardt, Inc., for the year ended December 31, 2012. Use the format presented in.

f. How much cash was provided by (used by) investing activities? Briefly describe what this amount tells us about the company.