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Financial statements for Vaughn Manufacturing are given below: $ 457000 Assets Cash Accounts receivable Buildings and equipment Accumulated depreciation- buildings and equipment Patents Vaughn Manufacturing

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Financial statements for Vaughn Manufacturing are given below: $ 457000 Assets Cash Accounts receivable Buildings and equipment Accumulated depreciation- buildings and equipment Patents Vaughn Manufacturing Balance Sheet January 1, 2021 Equities $ 961000 Accounts payable 863000 3620000 (1110000) Common stock 433000 Retained earnings $4767000 2800000 1510000 $4767000 Vaughn Manufacturing 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: Increase in accounts receivable Increase in accounts payable 195000 Depreciation-buildings and equipment 365000 Gain on sale of equipment (146000) Amortization of patents 55000 Net cash provided by operating activities $1100000 maiN $(382000) (2 87000 1187000 Cash flows from investing activities Sale of equipment Purchase of land Purchase of buildings and equipment Net cash used by investing activities 291000 (610000) (1149000) (1468000) (364000) 952000 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 588000 307000 961000 $1268000 Total assets on the balance sheet at December 31, 2021 are $6647000. Accumulated depreciation on the equipment sold was $335000. The book value of the buildings and equipment at December 31, 2021 was $4385000 $3629000. $3236000 mtoz $3149000

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