11) Saturn Company purchased a machine on January 1, 2018, for $900,000. At the date of acquisition, the machine had an estimated useful life of ten years with no salvage. The machine is being depreciated on a straight-line basis. On January 1, 2022, Saturn determined that the machine had an estimated useful life of 15 years from the date of acquisition with no salvage. An accounting change was made in 2022 to reflect this additional information. What is the amount of depreciation expense for the year ended December 31, 2022? 12) When preparing a statement of cash flows (indirect method), a sale of equity securities is an investing activity. (answer True or False) 13) When using the indirect method to prepare the operating section of a statement of cash flows, a gain on the sale of equipment and the amortization of bond discount would both be added back as an adjustment to net income. (answer True or False) I 14) The following information on selected cash transactions for 2021 has been provided by York Company: Proceeds from sale of land $290,000 Proceeds from long-term borrowings 480,000 Purchases of inventories 1,020,000 Proceeds from sale of Yorks common stock385,000 What is the cash provided (used) by investing activities for the year ended December 31, 2021, as a result of the above information? 15) Interest collected and principal collected on a note receivable are examples of an investing activity. (answer True or False) 16) Tulip Company sold a plant asset during 2021. The original cost of the plant asset was $700,000 and the accumulated depreciation at date of sale was $600,000. The proceeds from the sale of the plant asset was $80,000. The gain or loss from the sale of the plant asset should be shown in which section of the statement of cash flows