Remaining Time: 45 minutes 46 seconds. Question Completion Statues The following comparative balance sheet is given for Estern Co Cash Notes Receivable Assets Supplies & Inventory Prepaid expense Long-term investments Machines and tools Dec 31, 2021 Dec 31, 2020 $58,500 81,000 144,000 $351,000 72,000 63,000 81,000 121,500 31,500 54,000 0 166,500 Accumulated depreciation equipment Total Assets (63,000) (45,000) $639,000 $477,000 Liabilities & Stockholders' Equity Accounts payable. $ 76,500 $ 31,500 Bonds payable (long-term) 166,500 211,500 Common Stock 180,000 103,500 Retained Earnings 216,000 130,500 $477,000 Total Liabilities & Stockholders' Equity $639,000 Income Statement Information (2021); 1. Net income for the year ending December 31, 2021 is $130,500. 2. Depreciation expense is $18,000. 3. There is a loss of $9,000 resulted from the sale of long-term investment. Additional information (2021): 1. All sales and purchases of inventory are on account (or credit). CEOL.000 30.000 P Question Completion Status: 12 Retained Earnings Total Liabilities & Stockholders' Equity Income Statement Information (2021): 216,000 $639.000 130,500 $477,000 1. Net income for the year ending December 31, 2021 is $130,500. 2 Depreciation expense is $18,000. 3. There is a loss of $9,000 resulted from the sale of long-term investment Additional information (2021); 1. All sales and purchases of inventory are on account (or credit). 2. Received cash for the sale of long-term investments that had a cost of $81,000, yielding a $9,000 loss 3. Cash dividends paid is $45,000 4. The company purchased new machines and tools for $22,500 cash Required: Prepare the FIRST (Operating) and the SECOND (Investing) sections of the statement of cash flows for the year ended December 31, (PLEASE PROVIDE EACH AMOUNT/ITEM IN A SEPARATE LINE) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS 1 Paragraph Arial 10pt AVR T hp