Instructions During 20X1. Craig Company had the following transactions A. Purchased $200,600 of 10-year bonds issued by Makenzie Inc. B. Acquired land valued at $70,300 in exchange for machinery c. Sold equipment with original cost of $540,600 for $330,500; accumulated depreciation taken on the equipment to the point of sale was $180,400 D. Purchased new machinery for $120,400 E. Purchased common stock in Lommons Company for $55,400. Required: 1. Prepare the net cash from investing activities section of the statement of cash flows 2 CONCEPTUAL CONNECTION Usually, the net cash from investing activities is negative. How can Cray cover this negative cash flow? What other information would you like to have to make this decision? Amount Descriptions and Labels Refer to the list below for the exact wording of an amount description of label within your Statement of Cash Flows. Amount Descriptions Labels Land in exchange for machinery Cash flows from financing activities Net cash from investing activities Cash flows from investing activities Purchase of bonds Noncash investing activity Purchase of common stock Purchase of new machinery Sale of equipment Statement of Cash Flows (Partial) 1. Prepare the net cash from investing activities section of the statement of cash Mows. (Note: Use a minus sign to indicato any decreases in cash or cash outflows. Refer to the Amount Descriptions ist provided for the exact wording of the answer choices for text entries) Craig Company Statement of Cash Flows (Partial) Year Ending December 31, 20X1 1 Label 2 3 4 5 6 7 Label Conceptual Connection 2. Usually the net cash from investing activities a negative. How Craig cover this negative cash flow? Wat other information would you like to have to make this decision? Complete the tom delow that outline a response to the questions posed above The negative cash flow from investing activities can be covered by using cash from Some of the activities isted below would provide cash for investment, Chock all the operating and financing activities operating activities only seleting common stock operations taking out mortgages financing activities only * dividend declaring a Empurchasing common stock