Question 14

The balance sheet data of Bonita Industries at the end of 2021 and 2020 follow:

	2021			2020
Cash	$ 106000			$ 141000
Accounts receivable (net)	242000			179000
Inventory	279000			179000
Prepaid expenses	39000			108000
Buildings and equipment	359000			302000
Accumulated depreciationbuildings and equipment	(74000	)		(30000	)
Land	358000			162000
Totals	$1309000			$1041000
Accounts payable	$272000			$219000
Accrued expenses	48000			73000
Notes payablebank, long-term				167000
Mortgage payable	122000
Common stock, $10 par	837000			641000
Retained earnings (deficit)	30000			(59000	)
	$1309000			$1041000

Land was acquired for $196000 in exchange for common stock, par $196000, during the year; all equipment purchased was for cash. Equipment costing $24000 was sold for $9000; book value of the equipment was $18000 and the loss was reported as an ordinary item in net income. Cash dividends of $28000 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 Bonita Industries: The net cash provided (used) by investing activities was

$(81000).

$(72000).

$(269000).

$48000.