Blossom Inc. is a private company reporting under ASPE. The following selected account balances were reported in Blossom Inc's financial statements at year end: Cash Buildings Equipment Land 2021 2020 $ 18,000 825,000 $ 8,000 725,000 387,000 337,000 85,000 45,000 Accumulated depreciation-buildings Accumulated depreciation-equipment 300,000 282,500 Dividends payable Mortgage payable 115,000 86,000 5,750 2,200 541,000 581,000 Notes payable 335,000 304,000 Common shares: 5,300 shares in 2021; 3,900 in 2020 534,000 405,000 Retained earnings Cash dividends declared Depreciation expense-buildings Depreciation expense-equipment Gain on sale of equipment Loss on sale of building Interest expense 191,000 92,000 20,000 6,000 22,000 39,500 47,005 25,150 800 0 7,500 0 47,250 43,150 Additional information: 1. 2. 3. 2 5 Purchased $70,000 of equipment for $8,000 cash and a note payable for the remainder. Equipment was also sold during the year. Sold a building that originally cost $45,000. 4. Used cash to purchase land and a building. 5. 6. Mortgage payments and notes payable payments included interest and principal amounts. Common shares were issued for cash. Determine the amount of any cash inflows or outflows related to investing activities in 2021. (Hint: Use T accounts to calculate the cash flows.) (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) BLOSSOM INC. Cash Flow Statement (Partial) Year Ended December 31, 2021 Investing Activities Sale of Equipment Purchase of Equipment Sale of Building Purchase of Building Purchase of Land > > Net Cash Provided by Investing Activities EA 20800 -8000 37500 -145000 -40000 $ -134700 Attempts: 1 of 1 used (b) What was the amount of profit reported by Blossom Inc. in 2021? Amount of profit Save for Later Question Part Score $ Attempts: 0 of 1 used Submit Answer --/1