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The answer is NOT 31,500.

Following are selected balance sheet accounts of Tamarisk 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 Accounts receivable Property, plant, and equipment Accumulated depreciation-plant assets 2020 $33,700 276,400 (177,600) 2019 $24,100 248,700 (168,000) Increase (Decrease) $9,600 27,700 (9,600) Liabilities and stockholders' equity. Bonds payable Dividends payable Common stock, $1 par Additional paid-in capital Retained earnings 2020 $ 49,200 8,100 21,700 9,100 103,600 2019 $46,300 5,100 19,000 3,000 91,100 Increase $2,900 3,000 2,700 6,100 12,500 Selected income statement information for the year ended December 31, 2020: Sales revenue $155,400 Depreciation 38,000 Gain on sale of equipment 14,400 Net income 31,200 Selected income statement information for the year ended December 31, 2020: Sales revenue $155,400 Depreciation 38,000 Gain on sale of equipment 14,400 Net income 31,200 Additional information: 1. 2. During 2020, equipment costing $45,400 was sold for cash. Accounts receivable relate to sales of merchandise. During 2020, $19,900 of bonds payable were issued in exchange for property, plant, and equipment. There was no amortization of bond discount or premium. 3. 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. Investing $ $ -53200 (b) Proceeds from the sale of equipment. Investing $ $ (c) Cash dividends paid. Financing $ $ - 15700 (d) Redemption of bonds payable.

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