Question 24

Karen Co. sold a machine that cost $78,000 and had a book value of $45,600 for $47,000. Data from Karen's comparative balance sheets are:

		12/31/21		12/31/20
Machinery		$804,000		$669,500
Accumulated depreciation		182,500		135,500

Complete the cash flow statement below. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Karen Co. Partial Statement of Cash Flows (Indirect Method) December 31, 2021For the Year Ended December 31, 2021For the Quarter Ended December 31, 2021
Cash flows from operating activities
Sale of Machinery Purchase of Machinery Depreciation Expense Gain on Sale of Machinery Loss on Sale of Machinery		$
Sale of Machinery Depreciation Expense Purchase of Machinery Loss on Sale of Machinery Gain on Sale of Machinery
Cash flows from investing activities
Gain on Sale of Machinery Purchase of Machinery Sale of Machinery Depreciation Expense Loss on Sale of Machinery
Depreciation Expense Gain on Sale of Machinery Sale of Machinery Loss on Sale of Machinery Purchase of Machinery