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KASE purchased equipment for $290,000 cash, sold equipment costing $150,000 with a book value of $100,000, and declared and paid dividends during 2021. No new

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KASE purchased equipment for $290,000 cash, sold equipment costing $150,000 with a book value of $100,000, and declared and paid dividends during 2021. No new notes payable were issued during the year. Financial data follows. All balances are normal. Balance Sheet Dec. 31. Dec. 31. 2021 2020 Change Cash $ 36,000 $29,000 $ 7,000 Accounts receivable 125,000 97,000 28,000 Inventory 100,000 114,000 (14.000) Equipment 740,000 600,000 140,000 Accum. depreciation 370,000 220,000 150,000 Accounts payable 170,000 150,000 20,000 Unearned 74,000 44.000 30,000 revenue Accrued salaries 25,000 40.000 (15,000) Taxes payable 9,000 8,000 1.000 Long-term notes 50,000 payable 138,000 (88,000) Common stock 215.000 200,000 15,000 Retained earnings 88,000 40,000 48,000 Income Statement 2021 Sales revenue $2,800,000 Cost of sales 1,600,000 Salaries expense 900.000 Depreciation expense 200,000 Interest expense 20.000 Gain on sale of equipment 10,000 Gain on sale of equipment 10,000 Income tax expense 25,000 Net income $ 65,000 Prepare KASE's Statement of Cash Flows for 2021, using the indirect method. Cash Flows from Operating Activities (CFO) = Cash Flows from Investing Activities (CFI) = Cash Flows from Financing Activities (CFF) = Net increase/decrease in Cash = CAUTION: When entering answers, enter them as whole numbers For example: If the answer is 1000, enter 1000 If the answer is -1000, enter -1000

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