Question 13

The balance sheet data of Concord Corporation at the end of 2021 and 2020 follow:

	2021			2020
Cash	$ 109000			$ 138000
Accounts receivable (net)	239000			178000
Inventory	278000			181000
Prepaid expenses	42000			102000
Buildings and equipment	358000			301000
Accumulated depreciationbuildings and equipment	(70000	)		(30000	)
Land	360000			159000
Totals	$1316000			$1029000
Accounts payable	$270000			$222000
Accrued expenses	50000			70000
Notes payablebank, long-term				158000
Mortgage payable	122000
Common stock, $10 par	841000			640000
Retained earnings (deficit)	33000			(61000	)
	$1316000			$1029000

Land was acquired for $201000 in exchange for common stock, par $201000, during the year; all equipment purchased was for cash. Equipment costing $22000 was sold for $8000; book value of the equipment was $14000 and the loss was reported as an ordinary item in net income. Cash dividends of $29000 were charged to retained earnings and paid during the year; the transfer of net income to retained earnings was the only other entry in the Retained Earnings account. In the statement of cash flows for the year ended December 31, 2021, for Concord Corporation: The net cash provided by operating activities was

$95000.

$101000.

$107000.

$123000.