A5-7 Statement of Cash Flows (LO 5-2) Grand Corp.'s 20X2 financial statements showed the following: Sales Cost of goods sold Depreciation Other operating expenses Income tax $540,000 $205,200 26,800 80,200 46,100 Loss on sale of equipment 3,100 Gain on sale of investment (2,000) 359,400 Net earnings and comprehensive income $180,600 As at December 31 Cash Accounts receivable Inventory Equipment Less: accumulated depreciation Investment Total Accounts payable 20x2 20x1 $ 73,500 $ 58,300 94,800 108,600 198,600 185,500 588,600 502,600 (244,400) (242,200) 57,900 83,500 $ 769,000 $ 696,300 Income tax payable Bonds payable Common shares Retained earnings Total $ 65,700 $ 109,900 10,500 7,500 48,200 0 324,000 324,000 320,600 254,900 $ 769,000 696,300 Additional information: During the year, equipment with an original cost of $105,500 was sold for cash. Required: