Consider the following facts for Espresso Place:(a) Beginning and ending Retained earnings are $44000 and $70000respectively. Net income for the period is $61000.(b) Beginning and ending Plant assets net are $104000 and$109000 respectively. Depreciation for the period is $17000 andacquisitions of new plant assets total $28000. Plant assets weresold at a $5000 gain.Requirements1. How much are cash dividends?2. What was the amount of the cash receipt from the sale of plantassets?
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