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Sheridan Homes Ltd., a private company reporting under ASPE, reported the following for the year ended September 30, 2021: 2021 2020 Land $432,000 $288,000 Building

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Sheridan Homes Ltd., a private company reporting under ASPE, reported the following for the year ended September 30, 2021: 2021 2020 Land $432,000 $288,000 Building 504,000 504,000 Equipment 200,160 180,000 93,600 79,200 Accumulated depreciation Dividends payable 14.400 28,800 158,400 72,000 334,000 211,600 Mortgage note payable Common shares Retained earnings Depreciation expense Gain on equipment sold 316,800 115,200 21,600 2.880 Profit 302,400 Additional information: 1. 2. Equipment was purchased for $28,800. Land was purchased for $50,400 cash and a mortgage note payable was issued for the balance. Common shares were issued for $122.400 cash. 3. Prepare the investing and financing activities sections of the cash flow statement and any required note disclosure. (Hint: Use Taccounts to help you calculate the cash flows.) (Show amounts that decrease cash flow with either a - sign e.g. - 15,000 or in parenthesis e.3. (15,000).) SHERIDAN HOMES LTD. Cash Flow Statement (Partial) ( > $ $ > $ $ 0 $ sa was acquired by paying $ cash Note X: Land costing $ and issuing a mortgage note payable for $ Save for Later Attempts: 0 of 5 used Submit

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