Prepare the statement of cash flows from investing activities using the following company information: (10 points)

	2021	2020
Cash	$240,000	$ 230,500
Accounts Receivable	85,000	100,000
Prepaid Insurance	25,000	30,000
Prepaid Taxes	50,000	25,000
Equipment and Furniture	2,675,000	2,935,000
Accounts Payable	60,000	50,000
Salaries Payable	25,000	36,000
Mortgage Payable	985,000	1,250,000
Net Income	300,000	250,000
Depreciation Expense	135,000	105,000

• Additional information
  • The company issued 300 shares of common stock for $100,000
  • The company declared and paid $40,000 in dividends during the year
  • The company purchased $500,000 in new equipment to expand operations
  • The company received $250,000 for equipment sold with an original cost of $750,000 and accumulated depreciation of $695,000
  • The company sold land with an original cost of $625,000 for $1,500,000