Financial statements for Coronado Industries are given below: Coronado Industries Balance Sheet January 1, 2021 Assets Equities Cash $ 970000 Accounts payable $ 455000 Accounts receivable 865000 Buildings and equipment 3520000 Accumulated depreciation- (1150000) Common stock 2740000 buildings and equipment Patents 436000 Retained earnings 1446000 $4641000 $4641000 Coronado Industries Statement of Cash Flows For the Year Ended December 31, 2021 Increase (Decrease) in Cash Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities: $1160000 Increase in accounts receivable $(381000 ) Increase in accounts payable 188000 Depreciation-buildings and equipment 357000 Gain on sale of equipment (146000 ) Amortization of patents Net cash provided by operating activities 52000 70000 1230000 Cash flows from investing activities Sale of equipment 292000 Purchase of land (605000 ) Purchase of buildings and equipment (1149000 ) Net cash used by investing activities (1462000) Cash flows from financing activities Payment of cash dividend Sale of common stock Net cash provided by financing activities Net increase in cash Cash, January 1, 2021 Cash, December 31, 2021 (356000) 953000 597000 365000 970000 $1335000 Total assets on the balance sheet at December 31, 2021 are $6648000. Accumulated depreciation on the equipment sold was $330000. Capital stock (plus any additional paid-in capital) at December 31, 2021 was $2384000. $2740000. $3693000. $1580000.