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A5-7 Statement of Cash Flows (LO 5-2) Grand Corp.'s 20X2 financial statements showed the following: $370,000 Sales Cost of goods sold Depreciation Other operating expenses Income tax Loss on sale of equipment Gain on sale of investment Net earnings and comprehensive income $140,600 18,400 55,100 31,700 2,200 (1,400) 246,600 $123,400 20X1 As at December 31 Cash Accounts receivable Inventory Equipment Less: accumulated depreciation Investment Total Accounts payable Income tax payable Bonds payable Common shares Retained earnings Total 20x2 $ 50,200 64,800 135,800 402,500 (167, 100) 39,600 $ 525,800 $ 44,900 7,200 33, 100 222,500 218,100 $ 525,800 $ 39,900 74,400 127, 100 344,400 (165,900) 57,200 $ 477,100 $ 75,300 5,100 0 222,500 174,200 477,100 Additional information: During the year, equipment with an original cost of $72,200 was sold for cash. Required: 1. Prepare the SCF. (Deductible amounts and Cash outflows should be indicated with minus sign.) Required: 1. Prepare the SCF. (Deductible amounts and Cash outflows should be indicated with minus sign.) GRAND CORP Statement of Cash Flows For the year ended 31 December 20X2 Operations: $ 0 $ 0 Investing activities: Proceeds on sale of equipment Proceeds on sale of investment Purchase of equipment Proceeds on sale of investment 0 Financing activities: Issued bond Dividends paid 0 Opening cash Closing cash $ 0