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Maritime Marine Services
Selected Data from the Financial Statements for the Years

Question 143

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Maritime Marine Services
Selected data from the financial statements for the years ended December 31,2014 and 2013,are presented below:
 (in thousands) 20142013 Property, plant and equipment $14,100$12,20 Accumulated depreciation 4,9004,700 Investuments 450240 Short-term debt 5557 Long-term debt 1,5001,200 Common stock 597567 Treasuy-common stock (21)(21) Retained earnings 3,5223,426 Net income 770713\begin{array}{lll} \text { (in thousands) }&\underline{ 2014 }&\underline{ 2013 }\\\text { Property, plant and equipment } &\$ 14,100 & \$ 12,20 \\\text { Accumulated depreciation } &4,900 & 4,700 \\\text { Investuments } &450 & 240 \\\text { Short-term debt } &55 & 57 \\\text { Long-term debt } &1,500 & 1,200 \\\text { Common stock } &597 & 567 \\\text { Treasuy-common stock } &(21) & (21) \\\text { Retained earnings } &3,522 & 3,426 \\\text { Net income } &770 & 713\end{array}
-The following additional information was obtained from the company's records:
1. Cash additions to property, plant, and equipment during 2014 were $2,300 \$ 2,300 . An additional $250 \$ 250 of plant assets were acquired through debt in a noncash transaction. Depreciation expense for 2014 was $400 \$ 400 . Gains on disposals of property, plant and equipment during 2014 were $40 \$ 40 .
2. The cash proceeds from the sale of investments in 2014 was $120 \$ 120 . There was a $30 \$ 30 gain on the sale of the investments.
3. Proceeds from long-term debt issued during 2014 was $200 \$ 200 .
4. The issuance of common stock totaled $30 \$ 30 in 2014 . Refer to Maritime Marine Services.What was the cost of investments purchased during 2014?

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$300
$240 (Investments balance...

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