Comparative Statement of Financial Position
				Dec. 31, 2021			Dec. 31, 2020
Assets
Cash				63,000			48,000
Accounts receivable				72,000			59,000
Inventories				130,000			98,000
Property, plant, and equipment				290,000			240,000
Accumulated depreciation				(79,500)			(70,000)
Land				83,000			99,000
				558,500			474,000
Liabilities and shareholders equity
Accounts payable				51,000			48,000
Income taxes payable				12,000			16,000
Bonds payable				124,200			100,000
Common shares				220,000			190,000
Retained earnings				151,300			120,000
				558,500			474,000
Statement of Income
For the year ended December 31, 2021
Sales revenue		430,000
Gain on sale of equipment		8,500
					$438,500
Less:
Cost of goods sold		200,000
Operating expenses (excluding depreciation)		66,000
Depreciation expense		48,000
Income taxes		40,000			354,000
Net income					84,500

Additional information

1-Some of the land was sold at book value (or carrying value). As a result, there was no gain or loss on this transaction

2-Equipment costing $45,000 was sold for $15,000, which was $8,500 more than its book value at the time of disposal.

Questions

1)

Determine Net cash from operating activities

a.78,000

b.57,520

c.-30,480

d.63,900

2) Calculate Cost of Equipment Purchased

a.95,000

b.290,000

c.100,000

d.85,000

3)Calculate Proceeds from the Sale of Land

a.16,000

b.12,800

c.None

d.-1,000

4)Determine Net cash from investing activities

a.-50,450

b.60,200

c.20,000

d.-64,000

5)Determine dividends paid

a.53,200

b.43,400

c.None

d.60,280

6)Determine the Proceeds from Issuing Common Shares

a.28,000

b.4,200

c.30,000

d.None

7)Determine the proceeds on the issuance of the bonds

a.-14,200

b.124,200

c.None

d.24,200

8)Determine income tax paid

a.None

b.40,000

c.44,000

d.34,000