Sheridan Inc. is a private company reporting under ASPE. The following selected account balances were reported in Sheridan Inc's financial statements at year end: 2020 Cash $ 8,300 Buildings 2021 $18.450 834,000 393,000 91,000 303,000 121.000 731,000 341,800 Equipment Land 49,500 287,000 90,500 Accumulated depreciation-buildings Accumulated depreciation equipment Dividends payable Mortgage payable Notes payable 6,050 2.500 543,400 338.000 583,400 307.000 408,000 Common shares: 5,360 shares in 2021:3,960 in 2020 537,000 Common shares: 5,360 shares in 2021; 3,960 in 2020 537,000 408,000 Retained earnings 197,000 98,000 Cash dividends declared 23,000 8,400 Depreciation expense-buildings 23,500 39,800 47.305 25,450 Depreciation expense-equipment Gain on sale of equipment 860 0 Loss on sale of building 8.700 0 Interest expense 47,850 43.750 Additional information: 1 Purchased $73,000 of equipment for $9,200 cash and a note payable for the remainder. Equipment was also sold during the year. 2. 3. Sold a building that originally cost $48,000. 3. 4. Sold a building that originally cost $48,000. Used cash to purchase land and a building. Mortgage payments and notes payable payments included interest and principal amounts. Common shares were issued for cash. 5. 6. (a) Your answer is partially correct. Determine the amount of any cash inflows or outflows related to investing activities in 2021. (Hint: Use T accounts to calculate the cash flows.) (Show amounts that decrease cash flow with either a - sign eg. -15,000 or in parenthesis eg. (15,000).) SHERIDAN INC. Cash Flow Statement (Partial) Year Ended December 31, 2021 Cash Flow Statement (Partial) Year Ended December 31, 2021 Sale of Equipment Purchase of Equipment 9200 Purchase of Building - 151000 Sale of Building Purchase of Land 41500 Net Cash Used by Investing Activities