Use the statement of cash flows started in Application Problem 18-2. The comparative balance sheet of Flexcor Corporation lists the following long-term assets and their ending balances for the current and prior years.

Instructions:
1. For each account, write the balances for the current year and prior year. Compute the amount of increase or decrease from the prior year. Indicate if the increase or decrease represents a source of cash or a use of cash.

2. Using the statement of cash flows started in Application Problem 18-2, prepare the Cash Flows from Investing Activities section of the statement of cash flows.

Data from Application Problem 18-2,

The following information was taken from the financial statements of Flexcor Corporation on December 31 of the current year. The comparative income statement of Flexcor Corporation reveals the following net income and depreciation expense for the current year.

The comparative balance sheet of Flexcor Corporation lists the following current assets and current liabilities and their ending balances for the current and prior years.

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Office equipment Office furniture Land (decrease due to sale) Current Year $ 22,800.00 12,210.00 100,000.00 Prior Year $ 12,500.00 9,000.00 140,000.00