nd, 1u.0u Boints The table below contains data on Fincorp Inc. The balance sheet

Question

nd, 1u.0u Boints The table below contains data on Fincorp Inc. The balance sheet items corre values at year-end 2015 and 2016, while the income statement items correspond to revenues or expenses during the year ending in either 2015 or 2016. All values are in thousands of dollars spond to 2015 2016 $5,000 $5,100 1,800 1,900 590 610 290 590 Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes Accounts payable Accounts receivable Net fixed assetst Long-term debt Notes payable Dividends paid Cash and marketable securities 540 280 280 560 580 350 450 500 5,700 6,350 1,500 1,890 280 360 360 340 850 Taxes are paid in their entirety in the year that the tax obligation is incurred. f Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed Examine the values for depreciation in 2016 and net fixed assets in 2015 and 2016. What was Fincorp's gross investment in plant and equipment during 2016? (Enter your answer in dollars, not thousands of dollars.) Gross investment in plant and equipment References

Explanation / Answer

Net fixed assets in 2016 $ 6,350,000 Add: Depreciation expense in 2016 $     610,000 Less: Net fixed assets in 2015 $ 5,700,000 Gross investment in plant and equipment $ 1,260,000

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