a. Net income, $524,580. An examination of the income statement and the accounting records revealed the following additional information applicable to 20Y4 : a. Net income, $524,580. b. Depreciation expense reported on the income statement: buildings, $51,660; machinery and equipment, $22,680. c. Patent amortization reported on the income statement, $5,040. d. A building was constructed for $579,600. e. A mortgage note for $224,000 was issued for cash. f. 30,000 shares of common stock were issued at $13 in exchange for the bonds payable. g. Cash dividends declared, $131,040. Cash flows from investing activities: $613,640 Cash paid for construction of building $579,600 34,040 Cash flows from financing activities: Issuance of common stock to retire bonds 390,000 Net cash flow from financing activities Cash at beginning of the year Cash at end of the year Schedule of Non cash Financing and investing Activities