Problem 7: Prepare the statement of cash flows from investing activities using the following company information: (10 points) Cash Accounts Receivable Prepaid Insurance Prepaid Taxes Equipment and Furniture Accounts Payable Salaries Payable Mortgage Payable Net Income Depreciation Expense 2021 $240,000 85,000 25,000 50,000 2,675,000 60,000 25,000 985,000 300,000 135,000 2020 $ 230,500 100,000 30,000 25,000 2,935,000 50,000 36,000 1,250,000 250,000 105,000 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