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 Cashi Buildings $ 18,075 $8,050 826,500 726,000 Equipment 388,000 337,800 Land 86,000 45,750 Accumulated depreciation-buildings 300,500 283,250 Accumulated depreciation-equipment 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 expense-buildings Depreciation expense-equipment 22.250 39,550 47,055 25,200 Gain on sale of equipment Loss on sale of building Interest expense 810 0 7,700 47,350 43,250 MARTIN SCORSESE LEONAR DICAPRIO RIZA ABLOY MCFARLAND EMMA TILLINGER KOSKOPF JORDAN BELFORT 1. 2. Additional information: Purchased $70,500 of equipment for $8,200 cash and a note payable for the remainder. 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. 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 eg.-15,000 or in parenthesis e.g. (15,000).) Investing Activities CRANE INC. Cash Flow Statement (Partial) Year Ended December 31, 2021 Sale of Equipment Purchase of Equipment v Sale of Building Purchase of Building Purchase of Land 21110 -8200 37800 -146000 Net Cash Used by Investing Activities -40250 -135540 (b) What was the amount of profit reported by Crane Inc. in 2021? Amount of profit