Sunland Inc. is a private company reporting under ASPE. The following selected account balances were reported in Sunland Inc's financial statements at year end: 2021 Cash Buildings Equipment Land Accumulated depreciation-buildings Accumulated depreciation equipment Dividends payable Mortgage payable Notes payable Common shares: 5,480 shares in 2021: 4,080 in 2020 Retained earnings Cash dividends declared Depreciation expense-buildings Depreciation expense-equipment Gain on sale of equipment Loss on sale of building Interest expense $ 19,350 852,000 405,000 103,000 309,000 133,000 6,650 548,200 344,000 543,000 209,000 29,000 26,500 47,905 980 2020 $ 8,900 743,000 351,400 58,500 296.000 99,500 3,100 588,200 313,000 414,000 110,000 13,200 40,400 26,050 0 o 44,950 11.100 49,050 Additional information: Additional information: 1. Purchased $79,000 of equipment for $11,600 cash and a note payable for the remainder. 2. Equipment was also sold during the year. 3. Sold a building that originally cost $54,000. 4. Used cash to purchase land and a building. 5. Mortgage payments and notes payable payments included interest and principal amounts. 6. Common shares were issued for cash. 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 e.g. -15,000 or in parenthesis eg. (15,000).) SUNLAND INC. Cash Flow Statement (Partial) Year Ended December 31, 2021 Purchase of Building $ Sale of Building Purchase of Equipment Sale of Equipment Purchase of Land $ Attempts: 1 of 5 used Submit Answer Save for Later