Need help finding sale of equipment and net cash provided. I know that it is not 25400 by the way.
Take me to the text Question 9 Partially correct The balance sheet and income statement for Vespa Company are presented below. Mark 16.00 out of 18.00 P Flag question Vespa Company Balance Sheet As at December 31 2020 2019 Assets Current Assets Cash $145,165 $78,700 Accounts Receivable $45,100 $27,000 Merchandise Inventory $69,200 $42,400 Total Current Assets $259,465 $148,100 Land $101,000 $109,000 Equipment $103,000 $136,000 Less: Accumulated Depreciation $-53,000 $-69,000 Total Assets $410,465 $324,100 Liabilities and Equity Liabilities Current Liabilities Accounts Payable $39,700 $67,300 Taxes Payable $25,500 $25,500 Total Current Liabilities $65,200 $92,800 Bonds Payable $134,700 $88,400 Total Liabilities $199,900 $181,200 Shareholders' Equity Common Shares $75,000 $62,000 Retained Earnings $135,565 $80,900 Total Shareholders' Equity $210,565 $142,900 Total Liabilities and Equity $410,465 $324,100 Notes: The company paid cash dividends during 2020. The company did not make a bonds payable payment during 2020. The company did not purchase any equipment during 2020. The company did not purchase any land during 2020 Vespa Company Income Statement For the Year Ended December 31, 2020 Sales $417,000 Cost of Goods Sold $271,050 Gross Profit $145,950 Operating Expenses Depreciation Expense $9,000 Other Operating Expenses $25,100 Total Operating Expenses $34,100 Income from Operations $111,850 Other Income and Expenses Interest Expense $-7,500 Loss on Sale of Equipment $-7,600 Gain on Sale of Land $5,200 Operating Income before Tax $101,950 Income Tax $30,585 Net Income (Loss) $71,365 Prepare the cash flow statement for December 31, 2020 using the indirect method. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash Vespa Company Cash Flow Statement For the Year Ended December 31, 2020 Cash Flow from Operating Activities MacBook Pro > ( Vespa Company Cash Flow Statement For the Year Ended December 31, 2020 Cash Flow from Operating Activities Net Income 71365 Adjustments to Reconcile Net Income to Cash Depreciation Expense 9000 Loss on Sale of Equipment 7600 Gain on Sale of Land -5200 Changes in Operating Assets and Liabilities Increase in Accounts Receivable -18100 Increase in Merchandise Inventory -26800 Decrease in Accounts Payable -27600 Change in Cash Due to Operating Activities Cash Flow from Investing Activities Sale of Equipment 10265 Sale of Land 13200 Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Proceeds from Issuance of Common Shares 13000 > Proceeds from Bonds Payable 46300 Payment of Dividends - 16700 Net Cash Provided (Used) by Financing Activities Net increase (decrease) in cash 42600 > 66465 Cash at the Beginning of the Year Cash at the End of the Year 78700 > 145165 >
