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Sandhill Homes Ltd., a private company reporting under ASPE, reported the Land Building Equipment Accumulated depreciation Dividends payable Mortgage note payable Common shares Retained earnings

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Sandhill Homes Ltd., a private company reporting under ASPE, reported the Land Building Equipment Accumulated depreciation Dividends payable Mortgage note payable Common shares Retained earnings Depreciation expense Gain on equipment sold Profit 2021 2020 $594,000 $396,000 693,000 693,000 275,220 247,500 128,700 108,900 19,800 39,600 217,800 99,000 455,500 287,200 435,600 158,400 29,700 3,960 415,800 Additional information: 1. Equipment was purchased for $39,600. 2. Land was purchased for $69,300 cash and a mortgage note payable was issued for the balance. 3. Common shares were issued for $168,300 cash. Prepare the investing and financing activities sections of the cash flow statement and any required note disclosure. (Hint: Use T accounts to help you calculate the cash flows. Show decrease cash flow with either a signes -15,000 or in parenthesis es (15,000).) SANDHILL HOMES LTD. Cash Flow Statement (Partial) $ $ Note X: Land costing $ was acquired by payings cash and issuing a mortgage note payable for Save for Later Attempts: 0 of 1 used Sub

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