Crane Inc. is a private company reporting under ASPE. The following selected account balances were reported in Crane Inc.s financial statements at year end:

		2021		2020
Cash		$ 18,075		$ 8,050
Buildings		826,500		726,000
Equipment		388,000		337,800
Land		86,000		45,750
Accumulated depreciationbuildings		300,500		283,250
Accumulated depreciationequipment		116,000		86,750
Dividends payable		5,800		2,250
Mortgage payable		541,400		581,400
Notes payable		335,500		304,500
Common shares: 5,310 shares in 2021; 3,910 in 2020		534,500		405,500
Retained earnings		192,000		93,000
Cash dividends declared		20,500		6,400
Depreciation expensebuildings		22,250		39,550
Depreciation expenseequipment		47,055		25,200
Gain on sale of equipment		810		0
Loss on sale of building		7,700		0
Interest expense		47,350		43,250

Additional information:
1.		Purchased $70,500 of equipment for $8,200 cash and a note payable for the remainder.
2.		Equipment was also sold during the year.
3.		Sold a building that originally cost $45,500.
4.		Used cash to purchase land and a building.
5.		Mortgage payments and notes payable payments included interest and principal amounts.
6.		Common shares were issued for cash.

(a)

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Your answer is correct.

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).)

CRANE INC. Cash Flow Statement (Partial) year ended dec 31, 2021

Investing Activities Sale of Equipment 3305 Purchase of Equipment -8200 sale of Building -146000 Purchase of land - 4025 Nest cash used by investing activities -158345

Attempts: 2 of 3 used

(b)

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Your answer is correct.

What was the amount of profit reported by Crane Inc. in 2021?

Amount of profit

$ 119500

Cash Flow Statement (Partial)

3. Determine the amount of any cash inflows or outflows related to financing activities in 2021. 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).)

4.Identify and determine the amount of any cash inflows or outflows related to operating activities in 2021

Equipment costing $ was acquired by paying $ cash and issuing a note payable for $

5.Cash from net cash

by operating activities

$