Information from the Balance Sheet and Statement of Income are given below for Bridgeport Inc., a private company reporting under ASPE, for the year ended December 31. Comparative Balance Sheet Cash Accounts receivable Inventory Investments in land Property, plant, and equipment Accumulated depreciation 2021 $76,940 90,960 123,560 86,660 286,760 (50,210) $614,670 $54,260 13,260 140,000 250,000 157,150 $614,670 2020 $ 47,450 37,450 103,850 108,450 202,300 (40,300) $459.200 $49.970 19,270 76,500 208,000 105,460 $459,200 Accounts payable Accrued expenses payable Bonds payable Common shares Retained earnings Revenues Sales Gain on disposal of equipment $293.000 8.400 301,400 Expenses Cost of goods sold Depreciation expense Operating expenses Income tax expense Interest expense Profit $ 96,300 57,400 15,570 38,100 2,970 210,340 $91,060 Additional Information: Investments inland were sold at cost during 2021 2. Equipment costing $56,760 was sold for $17,670, resulting in a gain 3. Common shares were issued in exchange for some equipment during the year. No other shares were issued. The remaining purchases of equipment were paid for in cash. 4 Prepare a Cash Flow Statement for the year ended December 31, 2021 using the direct method. Show amounts that decreases flow with either a-signs-45.000 or in parentheses (45,0001) BRIDGEPORT INC. Cash Flow Statement - Direct Method Note X: Significant noncash investing and financing activities: Equipment with a cost of $ was exchanged for common shares