P13.3A (LO 3, 5) The following selected account balances relate to the property, plant, and equipment accounts of Kawennatakie Ltd.: 2021 2020 Accumulated depreciation-buildings $337,500 $300,000 Accumulated depreciation-equipment 144,000 96,000 37,500 37,500 60,000 48,000 100,000 60,000 Depreciation expense-buildings Depreciation expense-equipment Land Buildings Equipment Gain on disposal (equipment) Additional information regarding 2021: 1. Purchased $40,000 of land for cash. 750,000 750,000 300,000 240,000 5,000 -O- 2. Purchased $75,000 of equipment for a $10,000 down payment, financing the remainder with a bank loan. Equipment was also sold during the year. Instructions a. Calculate any cash receipts or payments related to the property, plant, and equipment accounts in 2021. b. Indicate where each of the cash receipts or payments identified in part (a) would be classified on the statement of cash flows or accompanying notes. c. Would you expect a growing company like Kawennatakie to be generating or using cash for its investing activities? Explain.

Additional information regarding 2021: 1. Purchased $40,000 of land for cash. 2. Purchased $75,000 of equipment for a $10,000 down payment, financing the remainder with a bank loan. Equipment was also sold during the year. Instructions a. Calculate any cash receipts or payments related to the property, plant, and equipment accounts in 2021. b. Indicate where each of the cash receipts or payments identified in part (a) would be classified on the statement of cash flows or accompanying notes. c. Would you expect a growing company like Kawennatakie to be generating or using cash for its investing activities? Explain