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Required information (The following information applies to the questions displayed below.) of 7 The following information was drawn from the year-end balance sheels of Mass
Required information (The following information applies to the questions displayed below.) of 7 The following information was drawn from the year-end balance sheels of Mass Trading Company Account Title Investment Securities Equipment Buildings Land Year 2 $ 35,600 218,500 849,500 92,000 Year 1 $ 26,300 209,500 944,500 63,000 Book Ask Additional information regarding transactions occurring during Year 2: Print ferences 1. Investment securities that had cost $6.420 were sold. The Year 2 income statement contained a loss on the sale of Investment securities of $570, 2. Equipment with a cost of $56,500 was purchased. 3. The income statement showed a gain on the sale of equipment of $7600. On the date of sale, accumulated depreciation on the equipment sold amounted to $8,700. 4. A building that had originally cost $170,000 was demolished 5. Land that had cost $26,300 was sold for $20,300, g. Prepare the investing activities section of the Year 2 statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.) CD 9 of 10
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