An abbreviated set of financial statements for Caraba's Company for 2020 and 2019 is shown below:

Caraba's Company Income Statement For the Year Ended December 31, 2020

Sales $553,000

Investment income 26,000

Gain on sale of investments 3,500

$582,500 Less: Selling & administrative expenses $221,600

Depreciation expense 15,000

Interest expense 3,900

Income taxes expense 6,500

247,000

Net Income $335,500

Comparative Balance Sheets December 31

2020 2019

Cash $209,000 $49,900

Accounts receivable 160,300 63,700

Investments 117,000 126,100

Equipment (net) 146,200 80,400

Land 312,000 276,300

Total Assets $944,500 $596,400

Accounts payable $130,000 $87,500

Mortgage payable 65,000 97,400

Common stock 266,500 238,000

Retained earnings 483,000 173,500

Total Liabilities & Shareholders' Equity $944,500 $596,400

Required: Prepare the cash flows from investing and financing activities sections of the 2020 statement of cash flows. For those boxes in which you must enter subtractive or negative numbers use a minus sign. Caraba's Company Statement of Cash Flows (Partial) For the Year Ended December 31, 2020

X Required: Prepare the cash flows from investing and financing activities sections of the 2020 statement of cash flows. For those boxes in which you must enter subtractive or negative numbers use a minus sign. Caraba's Company Statement of Cash Flows (Partial) For the Year Ended December 31, 2020 Investing Activities: Proceeds from sale of investments Payment for purchase of equipment Payment for purchase of land Net cash used for investing activities Financing Activities: Payment of mortgage Issuance of common stock Payment of dividends x X Net cash used for financing activities