Cullumber Inc. is a private company reporting under ASPE. The following selected account balances were reported in Cullumber Inc's financial statements at year end: 2021 2020 Cash $ 19,800 $ 9,200 Buildings 861,000 749,000 Equipment 411,000 356,200 Land 109,000 63,000 Accumulated depreciation-buildings - 312,000 300,500 Accumulated depreciation equipment 139,000 104,000 Dividends payable 6,950 3,400 Mortgage payable 550,600 590,600 Notes payable 347.000 316,000 Common shares: 5.540 shares in 2021;4.140 in 2020 546,000 417,000 Retained earnings 215,000 116,000 Cash dividends declared 32,000 15,600 Depreciation expense-buildings 28,000 40,700 Depreciation expense-equipment 48,205 26,350 Gain on sale of equipment 1,040 0 Loss on sale of building 12,300 0 Interest expense 49,650 45,550 Additional information: 1. Purchased $82,000 of equipment for $12,800 cash and a note payable for the remainder. 2. Equipment was also sold during the year. 3. Sold a building that originally cost $57,000. 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) Your answer is correct. Determine the amount of any cash inflows or outflows related to investing activities in 2021. (Hint: Use Taccounts to calculate the cash flows.) (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000).) CULLUMBER INC. Cash Flow Statement (Partial) Year Ended December 31, 2021 Investing Activities Purchase of Land $ -46000 Sale of Building 28200 Purchase of Building - 169000 Sale of Equipment v 15039 Purchase of Equipment -12800 Net Cash Used by Investing Activities -184565 Attempts: 2 of 2 used (b) What was the amount of profit reported by Cullumber Inc. in 2021? Amount of profit $ Save for Later Attempts: 0 of 2 used Submit