Flag Prepare the statement of cash flows

Increase in net assets $1,000,000

Increase in cash 855,000

Increase in Investment Income Receivable 8,000

Increase in student receivables 32,000

Decrease in supplies inventory 5,000

Increase in accounts payable 100,000

Decrease in deferred tuition revenue 20,000

Included in the change in net assets were the following items:

Cash gifts for scholarships $100,000

Cash gifts for equipment acquisition 10,000

Cash gifts for permanent endowment 500,000

Gift of land 300,000

Reclassifications of temporarily restricted amounts 80,000

Donated services of retired professor teaching 2 online classes per term valued at 25,000 The controller provided analyses of the following accounts: Property, Plant, and Equipment 1/1/21 $5,000,000

Disposals of equipment (110,000) (Sold for $93,000)

Gift of land 300,000 Construction costs paid to XYZ

Construction for new building (used proceeds of a $400,000 unsecured L.T. Note and other cash on hand) 500,000

Depreciation expense (175,000)

Property, Plant, and Equipment 12/31/21 $5,515,000 Investments 1/1/21

$1,000,000

Purchases 125,000

Sale of investments (sold for $110,000) (150,000)

Unrealized gain to adjust to FMV 100,000 Investments 12/31/21 $1,075,000