Logano driving school’s 2017 balance sheet showed net fixed assets of $2.4 million, and the 2018 balance sheet showed net fixed assets of $3.3 million. the company’s 2018 income statement showed a depreciation expense of $319,000. what was net capital spending for 2018? (do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e. g., 1,234,567.

The answer is: $1,219,000

Explanation:

The formula used to calculate Logano Driving School's net capital spending for the year is:

net fixed assets 2018 - net fixed assets 2017 + depreciation expense 2018

net capital spending = $3,300,000 - $2,400,000 + $319,000

net capital spending = $1,219,000

d, conspicuous consumption is when you try to increase your wealth or social status (and in the case he's trying to create the perception of wealth considering he can't really afford it)

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