Additional data related to 2014 are as follows.

1. Equipment that had cost $20,000 and was 60% depreciated at time of disposal was sold for $5,000.

2. $18,000 of the long-term note payable was paid by issuing common stock.

3. Cash dividends paid were $15,000.

4. On January 1, 2014, the building was completely destroyed by a hurricane. Insurance proceeds on the building were $245,000 (net of $22,000 taxes).

5. Investments (available-for-sale) were sold at $3,500 below their cost. The company has made similar sales and investments in the past.

6. Cash was paid for the acquisition of equipment.

7. A long-term note for $20,000 was issued for the acquisition of some equipment.

8. Interest of $1,000 and income taxes of $23,600 were paid in cash.

Prepare the investing and financing sections of the statement of cash flows.

Question 23 (12 points) The comparative balance sheets for Pumpkin Pie Corporation show the following information December 31 2014 2013 55,800 19,000 Cash Accounts receivable 56,000 51,000 81,600 Inventory 84,000 Buildings 180,000 Equipment 120,000 195,000 42.000 Patents 25,000 30,000 $413,400 $526.000 Total assets Allowance for doubtful accounts 5,000 4,500 46,000 Accumulated depreciation-buildings 45,000 Accumulated depreciation-equipment 20,000 Accounts payable 76,000 74,000 Dividends payable 6,000 12,000 Notes payable, short-term 10,000 6,000 Long-term notes payable 260,000 50,000 Common stock 68,000 50,000 Retained earnings 153,400 61,500 Total liabilities and stockholders' equity $413,400 $526,000