Following are selected balance sheet accounts of Sheffield Bros. Corp. at December 31, 2020 and...

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Accounting

Following are selected balance sheet accounts of Sheffield Bros. Corp. at December 31, 2020 and 2019, and the increases or decreases in each account from 2019 to 2020. Also presented is selected income statement information for the year ended December 31, 2020, and additional information.

Selected balance sheet accounts
Assets

2020

2019

Increase (Decrease)

Accounts receivable

$33,700 $23,800 $9,900

Property, plant, and equipment

274,500 245,100 29,400

Accumulated depreciationplant assets

(179,100 ) (168,400 ) (10,700 )
Liabilities and stockholders equity

2020

2019

Increase

Bonds payable

$ 49,100 $45,800 $3,300

Dividends payable

7,900 4,900 3,000

Common stock, $1 par

22,000 19,200 2,800

Additional paid-in capital

9,100 3,000 6,100

Retained earnings

103,000 90,800 12,200
Selected income statement information for the year ended December 31, 2020:

Sales revenue

$155,500

Depreciation

38,400

Gain on sale of equipment

14,600

Net income

31,200

Additional information:

1. During 2020, equipment costing $44,800 was sold for cash.
2. Accounts receivable relate to sales of merchandise.
3. During 2020, $19,800 of bonds payable were issued in exchange for property, plant, and equipment. There was no amortization of bond discount or premium.

Determine the category (operating, investing, or financing) and the amount that should be reported in the statement of cash flows for the following items.

Activity

(a)

Payments for purchase of property, plant, and equipment.

select a kind of activity FinancingInvestingOperating

$enter a dollar amount

(b)

Proceeds from the sale of equipment.

select a kind of activity FinancingInvestingOperating

$enter a dollar amount

(c)

Cash dividends paid.

select a kind of activity FinancingInvestingOperating

$enter a dollar amount

(d)

Redemption of bonds payable.

select a kind of activity FinancingInvestingOperating

$enter a dollar amount

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