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Consider the following facts for Espresso Place

Price: $2.99


Consider the following facts for Espresso Place:

a. Beginning and ending Retained earnings are $44,000 and $70,000, respectively. Net income for the period is $61,000.

b. Beginning and ending Plant assets, net, are $104,000 and $109,000, respectively. Depreciation for the period is $17,000, and acquisitions of new plant assets total $28,000. Plant assets were sold at a $5,000 gain.

Requirements

1. How much are cash dividends?

2. What was the amount of the cash receipt from the sale of plant assets?

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