$ 144 236 Jacobson Manufacturing Corporation earned $87,000 in profit during 2020. Machinery was sold for $117,000 and a $27,000 loss on the sale was recorded. Machinery purchases totalled $350,000 including a July purchase for which an $112,000 promissory note was issued. Bonds were retired at their face value, and the issuance of new common shares produced an infusion of cash. Jacobson's comparative balance sheets were as follows: Jacobson Manufacturing Corporation Comparative Balance Sheet Information (in thousands) December 31 Assets 2020 2019 Cash $ Accounts receivable Merchandise inventory 388 Machinery 1,750 1,660 Accumulated depreciation (270) (290) Total assets $2,248 $2,114 Liabilities and Equity Accounts payable 466 Notes payable Dividends payable Bonds payable Common shares 800 Retained earnings Total liabilities and equity $2,248 $2,114 108 286 350 $ $ 336 48 244 534 250 36 344 640 310 354 Required: (Enter amounts in thousands, as per balance sheet above. List any deduction in cash and cash outflows and loss as negative amounts.) 1. What was Jacobson's depreciation expense in 2020? Depreciation expense 2. What was the amount of cash flow from operating activities? Operating activities 3. What was the amount of cash flow from investing activities? Investing activities 4. What was the amount of dividends declared? paid? Dividends declared Dividends paid 5. By what amount would you expect the total inflows of cash to differ from the total outflows of cash? Difference in amount 6. What was the amount of cash flow from financing activities? Financing activities