Please Explain solution

Concord Corporation's balance sheet accounts as of December 31, 2021 and 2020 and information relating to 2021 activities are presented below. December 31 2021 2020 Assets Cash $ 440000 $ 198000 Short-term investments 600000 Accounts receivable (net) 1030000 1030000 Inventory 1370000 1210000 Long-term investments 402000 600000 Plant assets 3390000 1980000 Accumulated depreciation (898000) (898000) Patent 178000 202000 Total assets $6512000 54322000 Liabilities and Stockholders' Equity Accounts payable and accrued liabilities $1670000 $1460000 Notes payable (nontrade) 579000 Common stock, $10 par 1594000 1400000 Additional paid-in capital 798000 499000 Retained earnings 1871000 963000 Total liabilities and stockholders' 56512000 $4322000 equity Information relating to 2021 activities: Net income for 2021 was $1510000. Cash dividends of $602000 were dedared and paid in 2021. Equipment costing $1010000 and having a carrying amount of $321000 was sold in 2021 for $361000. A long-term investment was sold in 2021 for $321000. There were no other transactions affecting long-term investments in 2021. 19400 shares of common stock were issued in 2021 for $25 a share. Short-term investments consist of treasury bills maturing on 6/30/22. Net cash used in Concord's 2021 investing activities was $1698000. $1738000 $2338000. O $1809000