7 The following comparative balance sheet is given for Estern Co.: Assets Cash Notes Receivable Supplies & Inventory Prepaid expense Long-term investments Machines and tools Accumulated depreciation-equipment Total Assets Liabilities & Stockholders' Equity Accounts payable Dec.31.2020 Dec.31, 2021 $117,000 $19.500 24.000 21.000 27.000 40,500 10.500 18.000 0 27,000 55.500 48,000 (21.000) $213,000 (15.000) $159,000 $ 25.500 $ 10,500 Bonds payable (long-term) 55,500 70,500 Common Stock 60.000 34,500 Retained Earnings 72,000 43.500 Total Liabilities & Stockholders' $213,000 $159,000 Equity Income Statement Information (2021): 1. Net income for the year ending December 31, 2021 is $43,500. 2. Depreciation expense is $6,000. 3. There is a loss of $3,000 resulted from the sale of long-term investment. Additional information (2021); All sales and purchases of invent 11 points Save Answer 4 5 C + IB Remaining Time: 1 hour, 56 minutes, 12 seconds. * Question Completion Status: Equity Income Statement Information (2021): 1. Net income for the year ending December 31, 2021 is $43,500. 2. Depreciation expense is $6,000. 3. There is a loss of $3,000 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 $27,000, yielding a $3,000 loss. 3. Cash dividends paid is $15,000. 4. The company purchased new machines and tools for $7,500 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 AMOUNT/ITEM IN A SEPARATE LINE) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial X2 X2 10pt RE EMEMA I Q ABC - T X H 0 H