Craig’s Driving School’s 2013 balance sheet showed net fixed assets of $3.9 million, and the 2014 balance sheet showed net fixed assets of $4.4 million. The company’s 2014 income statement showed a depreciation expense of $745,000. What was net capital spending for 2014? Select one: a. $1,245,000 b. $1,145,000 c. $1,305,000 d. -$1,45,000
Craig’s Driving School’s 2013 balance sheet showed net fixed assets of $3.9 million, and the 2014 balance sheet showed net fixed assets of $4.4 million. The company’s 2014 income statement showed a depreciation expense of $745,000. What was net capital spending for 2014? Select one: a. $1,245,000 b. $1,145,000 c. $1,305,000 d. -$1,45,000
Chapter2: Financial Statements, Cash Flow, And Taxes
Section: Chapter Questions
Problem 12P
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Craig’s Driving School’s 2013 balance sheet showed net fixed assets of $3.9 million, and the 2014 balance sheet showed net fixed assets of $4.4 million. The company’s 2014 income statement showed a
Select one:
a. $1,245,000
b. $1,145,000
c. $1,305,000
d. -$1,45,000
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