The table below contains data on Fincorp Inc. The balance sheet items correspond

Question

The table below contains data on Fincorp Inc. The balance sheet items correspond to 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 2016 $4,000 $4,100 1,700 520 350 550 150 420 350 450 5,800 2,400 600 410 300 2015 Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes Accounts payable Accounts receivable Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities 1,600 500 300 500 150 400 300 400 5,000 2,000 1,000 410 800 * Taxes are paid in their entirety in the year that the tax obligation is incurred t 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 an equipment during 2016? (Enter your answer in dollars, not thousands of dollars.) Gross investment in plant and equipment

Explanation / Answer

Net fixed assets 2016 = 5,470,000

Add: depreciation 2016 530,000

6,000,000

Less: net fixed assets 2015 4,800,000

Gross inve in plant and equipment 1,200,000

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