E17.9 (LO2) AP Lu Corporation's comparative balance sheet is presented below. Prepare statement of cash flowsindirect method. 2020 $ 10,700 23,400 26,000 70,000 (10,000) $120,100 LU CORPORATION Balance Sheet December 31 Assets 2021 Cash $ 14,300 Accounts receivable 21,200 Land 20,000 Building 70,000 Accumulated depreciationbuilding Total $110,500 Liabilities and Shareholders' Equity Accounts payable $ 12,370 Common shares 75,000 Retained earnings 23,130 Total $110,500 Additional information: 1. Profit was $22,630. Dividends declared and paid were $19,500. 2. No noncash investing and financing activities occurred during 2021. 3. The land was sold for cash of $4,900 resulting in a loss of $1,100 on the sale of the land. Instructions Prepare a cash flow statement for 2021 using the indirect method. Lu Corporation reports under ASPE. $ 31,100 69,000 20,000 $120,100 BE17.8 (LO 2 ) AP The T accounts for equipment and the related accumulated depreciation for Trevis Corporation are as follows: Determine cash received from sale of equipment. Equipment Accumulated Depreciation-Equipment Beg, bal. 80,000 Beg, bal. 44,500 Purchases 41,600 Disposals 24,000 Disposals 5,500 Depreciation 12,000 End. bal. 97,600 End. bal. 51,000 In addition, Trevis's income statement reported a loss on the sale of equipment of $1,500. What will be reported on the cash flow statement with regard to the sale of equipment if Trevis uses the indirect method