Question
Sheridan Corporation reported the following information (in thousands) at December 31, 2021 : 2021 2020 Long-term investments $180 $75 Land 200 200 Buildings 380 380
Sheridan Corporation reported the following information
(in thousands) at December 31, 2021
: 2021 2020 Long-term investments $180 $75 Land 200 200 Buildings 380 380 Accumulated depreciationbuildings 100 75 Equipment 560 300 Accumulated depreciationequipment 200 200
Additional information:
1. The company purchased long-term investments during the year; none were sold. 2. The company purchased equipment during the year and sold some equipment that cost $200 and had a carrying amount of $40 for a gain of $10. Prepare the investing activities section of Sheridans statement of cash flows for the year. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
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