Cash Assets Notes Receivable Dec 31, 2021 Supplies & Inventory $351,000 72,000 Prepaid expense 81,000 Long-term investments 31,500 Machines and tools 0 166,500 Accumulated depreciation-equipment Total Assets (63.000) $639,000 Liabilities & Stockholders' Equity Accounts payable $ 76,500 166,500 Bonds payable (long-term) 180,000 Common Stock 216.000 Retained Earnings Total Liabilities & Stockholders' Equity $639,000 Income Statement Information (2021): 1. Net income for the year ending December 31, 2021 is $130,500. 2. Depreciation expense is $18,000. 3. There is a loss of $9.000 resulted from the sale of long-term investment. Additional information (2021): 1. All sales and purchases of inventory are on account (or credit). 2. Received cash for the sale of long-term investments that had a cost of $81,000, y ASU 3. Cash dividends paid is $45.000. 4. The company purchased new machines and tools for $22,500 cash. Dec 31, 2020 $58,500 63,000 121,500 54,000 81,000 144,000 (45.000) $477,000 $ 31,500 211,500 103,500 130,500 $477,000 Are on account (or credit) 2. Received cash for the sale of long-term investments that had a cost of $1,000, yielding a $9,000 loss 3. Cash dividends paid is $45,000. 4. The company purchased new machines and tools for $22.500 cash Required: Prepare the FIRST (Operating) and the SECOND (Investing) sections of the statement of cash flows for the year ended December 31, 2021. (PLEASE PROVIDE EACH AMOUNTATEM IN A SEPARATE LINE) For the toolbar, press ALT+F10 (PC) or ALT-FN-F10 (Mac).
