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 5 9 200 861000 749,000 Buildings Equipment 411000 356,200 Land 109,000 63.000 312.000 300 500 139,000 104,000 6,950 3,400 550,600 590,600 347.000 316,000 546,000 417.000 Accumulated depreciation-buildings Accumulated depreciation-equipment Dividends payable Mortgage payable Notes payable Common shares: 5.540 shares in 2021: 4,140 in 2020 Retained earnings Cash dividends declared Depreciation expense-buildings Depreciation expense-equipment Gain on sale of equipment Loss on sale of building Interest expense 215.000 116.000 32.000 15.600 28.000 40.700 48,205 26,350 1,040 0 12,300 0 49.650 45.550 1 2 Additional information: Purchased $82.000 of equipment for $12.800 cash and a note payable for the remainder Equipment was also sold during the year. 3. Sold a building that originally cost $57.000. Used cash to purchase land and a building Mortgage payments and notes payable payments included interest and principal amounts Common shares were issued for cash. 4. 5 6 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 signes -15,000 or in parenthesis es. (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 15035 Purchase of Equipment - 12800 Net Cash Used by Investing Activities -184565 Attempts: 2 of 2 used (b) Your answer is incorrect What was the amount of profit reported by Cullumber Inc. In 2021 Amount of profits Attempts: 1 of 2 used Submit Answer Save for Later Last saved 3 hours ago Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes