Additional Information for 20X2:

1. The company recorded net income of $14,500.

2. There were no gains or losses from the disposal of the fully depreciated building that originally cost $120,000.

3. Land costing $1,250 was sold for $2,000.

4. Depreciation on remaining buildings and equipment amounted to $11,875.

5. Investments were sold at cost.

6. JGC Corporation Board of Directors did not declare dividends in 20X2.

Using the balance sheet above answer the following questions using the indirect method.

A) How much is Cash Flows From (or Used by) Operating Activities?

B) How much is Cash Flows From (or Used by) Investing Activities?

C) How much is Cash Flows From (or Used by) Financing Activities?

JGC Corporation Comparative Balance Sheets At December 31, Delta/ 20X2 20X1 Difference Assets: Cash 40,375 13,000 27,375 Accounts receivable 27,000 45,750 -18,750 Inventory 12,000 9,000 3,000 Investments: hold to maturity 0 3,000 -3,000 Land 15,000 16,250 -1,250 Buildings (net of depreciation) 11,875 23,750 -11,875 Equipment (net of depreciation) 38,000 15,500 22,500 Total Assets 144,250 126,250 Liabilities and Shareholders' Equity: Accounts payable 15,750 19,250 -3,500 Salaries payable 8,000 10,000 -2,000 Short-term notes payable -1,000 50,000 51,000 Common stock 50,000 40,000 10,000 Retained earnings 20,500 6,000 Total Liabilities and Equity 144,250 126,250