Rotweiler Obedience School\'s December 31, 2015, balance sheet showed net fixed

Question

Rotweiler Obedience School's December 31, 2015, balance sheet showed net fixed assets of $1,780,000, and the December 31, 2016, balance sheet showed net fixed assets of $2,150,000. The company's 2016 income statement showed a depreciation expense of $332,000 What was the company's net capital spending for 2016? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Net capital spending

Explanation / Answer

Net capital spending:

= Ending fixed assets – Beginning fixed assets + depreciation

= $1,780,000+$332,000-$2,150,000

= -$38,000,000

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