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Show Attempt History Current Attempt in Progress Your answer is partially correct The following selected accounts are from Sheridan Corp's general ledger: Jan. 1 Dec.

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Show Attempt History Current Attempt in Progress Your answer is partially correct The following selected accounts are from Sheridan Corp's general ledger: Jan. 1 Dec. 31 Dec 31 Land Bal. 520.000 9.000 Bal. 529.000 Jan 1 July 31 Sept. 2 Dec 31 Equipment Bal 163.000 72.000 56,000 Nov. 10 Bal. 248,000 43,000 Accumulated Depreciation-Equipment Jan. 1 Bal 80.000 Nov. 10 31,000 Dec. 31 49,000 Dec 31 Bal. 98.000 Dividends Payable Jan. 1 Dec. 23 Dec. 31 Bal. 1.200 4,600 Bal 5,800 Bank Loan Payable Dividends Payable Jan. 1 Dec. 23 Dec. 31 Bal, 1.200 4,600 Bal. 5,800 Bank Loan Payable Jan. 1 Sept. 2 Dec. 31 Bal. 0 47,000 Bal. 47.000 Retained Earnings Jan. 1 4,600 Dec. 31 Dec 31 Dec 23 Bal. 135.000 64,000 Bal 194,400 Additional information: July 31 Sept. 2 Nov. 10 Dec. 1 23 31 31 Equipment with a cost of $72,000 was purchased for cash. Equipment with a cost of $56,000 was purchased and partially financed through the issue of a long-term bank loan payable received specifically for the purchase of this equipment. A loss of $3,800 was incurred on the disposal of equipment. Acquired a small parcel of adjoining land. A $4,600 cash dividend was declared to shareholders of record on December 31. payable on January 10. Depreciation expense of $49,000 was recorded for the year. Net income for the year was $64,000. From the postings in the above accounts and additional information provided, indicate what information would be reported in the investing and/or financing activities sections of, and notes to the statement of cash flows. (Show amounts that decrease cash flow with either a-sign e g. -15,000 or in parenthesis eg. (15,000).) SHERIDAN CORP. Statement of Cash Flows (Partial.) Year Ended December 31 Investing activities Purchase of equipment (88000) Disposal of equipment v 8200 Purchase of land (9000) Cash flows from investing activities $ (88800) What is the amount that would be reported for financing activities? Financing activities Notes to the financial statements: Equipment of $ 56000 was purchased by paying $9.000 cash and issuing a bank loan payable specifically for the purchase of this equipment for $47.000

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