Exercise 23-10 Following are elected balance sheet accounts of Novak Bros. Corp. at December 31, 2020 and 2019, and the increases or decreases in each account from 2019 to 2020. Also presented is selected income statement information for the year ended December 31, 2020, and additional information Selected balansheet accounts Increase Assets 2020 2019 (Decrease) Accounts receivable $33,700 $24,000 Property, plant, and equipment 278,200 247,900 30,300 Accumulated depreciation-plant assets (178,900 ) (166,900 ) (12,000) $9,700 Liabilities and stockholders' equity Bonds payable Dividends payable Common stock, $1 par Additional paid-in capital Retained earnings 2020 $ 48,900 8,000 21,800 8,900 102,900 2019 $46,000 5,000 19,100 3,000 90,500 Increase $2,900 3,000 2,700 5,900 12,400 Selected income statement information for the year ended December 31, 2020 Sales revenue $155,400 Depreciation 38,000 Gain on sale of equipment 14,500 Net Income 31,000 Net Income 1,500 31,000 Additional info ation: 1. During 2020. uipment costing $45,000 was sold for cash. 2. Accounts recible relate to sales of merchandise 3. During 2020, 5. 200 of bonds payable were issued in exchange for property, plant, and equipment. There was no amortization of bond discount or premium Determine the category (operating, Investing, or financing) and the amount that should be reported in the statement of cash flows for the following items Activity (a) Payments for purchase of property, plant, and equipment. (b) Proceeds from the sale of equipment. $ (c) Cash dividends paid. $ (d) Redemption of bonds payable. $ Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO VIDEO