Question 2 of 4 "iew Policies Current Attempt in Progress Crane Inc. is a private company reporting under ASPE. The following selected account balance financial statements at year end: 2021 2020 Cash $ 18,900 $8,600 Buildings 843,000 737,000 Equipment 399,000 346,600 Land 54,000 Accumulated depreciation-buildings 97,000 306,000 127.000 291,500 95.000 Accumulated depreciation-equipment Dividends payable 6.350 2.800 Mortgage payable 545,800 585,800 Notes payable 341.000 310,000 Common shares: 5,420 shares in 2021: 4,020 in 2020 540.000 411.000 Retained earnings 203,000 104,000 Cash dividends declared 26.000 10.800 Depreciation expense-buildings 25.000 40.100 Retained earnings 203,000 104,000 Cash dividends declared 26,000 10,800 Depreciation expense-buildings 25,000 40,100 Depreciation expense-equipment 47,605 25,750 Gain on sale of equipment 920 0 Loss on sale of building 9.900 0 Interest expense 48,450 44,350 Additional information: 1. Purchased $76,000 of equipment for $10,400 cash and a note payable for the remainder. 2. Equipment was also sold during the year. 3. 4. Sold a building that originally cost $51,000. Used cash to purchase land and a building. Mortgage payments and notes payable payments included interest and principal amounts. Common shares were issued for cash. 5. 6. (c) Determine the amount of any cash inflows or outflows related to financing activities in 2021. (Hint: Use T accounts to calculate the cash flows.) (Show amounts that decrease cash flow with either a - signes. -15,000 or in parenthesis es (15,000)) CRANE INC. Cash Flow Statement (Partial) Year Ended December 31, 2021 Financing Activities Repayment of Mortgage Repayment of Note