Equipment was purchased for $650,000. The patent was sold at the end of the year Create a statement of cash flows using the information below:

DR CR Cash 199,061 Investments 530,000 Fair value adjustment 16000 Accounts Receivable 350,000 Allowance for Doubtful Accts 17,500 Prepaid Rent 15,000 Inventory 600,000 Land 807,000 Building 800,000 Equipment 994,556 Accumulated Depreciation 506,823 Patent 40,000 Investment in Pencil Corporation 2,292,500 Accounts Payable 321,000 Net Pension Obligation 520,000 Bonds Payable 1,000,000 Premium on B/P 341582 Common stock 370,000 Other Comprehensive Income-Pension 360,000 OCI-Actuarial Gain 10000 Retained Earnings 4,093,268 Treasury stock 80,000 Cash Dividends 100,000 Stock Dividends 20,000 Sales 1,878,659 Sales Returns & Allowances 150,000 Dividend Revenue Cost of Goods Sold 1,400,000 Salaries Expense 354,500 Interest Expense 27,027 Pension Expense 520,000 Depreciation Expense 184,456 Gain on Sale of Patents 75,000 Warranty Expense 10,000 Loss on sale of equipment 20,000 Rent Expense 15,000 Patent Amortization 10,000 Unrealized gain on TS 10000 Equity investment income 225000 Asset Retirement Obligation 29848 Accretion Expense 1421 Bad Debt Expense 27500 Wage Payable 4000 Deferred Revenue 521341 9,924,021 | 9,924,021 DR CR Cash 199,061 Investments 530,000 Fair value adjustment 16000 Accounts Receivable 350,000 Allowance for Doubtful Accts 17,500 Prepaid Rent 15,000 Inventory 600,000 Land 807,000 Building 800,000 Equipment 994,556 Accumulated Depreciation 506,823 Patent 40,000 Investment in Pencil Corporation 2,292,500 Accounts Payable 321,000 Net Pension Obligation 520,000 Bonds Payable 1,000,000 Premium on B/P 341582 Common stock 370,000 Other Comprehensive Income-Pension 360,000 OCI-Actuarial Gain 10000 Retained Earnings 4,093,268 Treasury stock 80,000 Cash Dividends 100,000 Stock Dividends 20,000 Sales 1,878,659 Sales Returns & Allowances 150,000 Dividend Revenue Cost of Goods Sold 1,400,000 Salaries Expense 354,500 Interest Expense 27,027 Pension Expense 520,000 Depreciation Expense 184,456 Gain on Sale of Patents 75,000 Warranty Expense 10,000 Loss on sale of equipment 20,000 Rent Expense 15,000 Patent Amortization 10,000 Unrealized gain on TS 10000 Equity investment income 225000 Asset Retirement Obligation 29848 Accretion Expense 1421 Bad Debt Expense 27500 Wage Payable 4000 Deferred Revenue 521341 9,924,021 | 9,924,021