sunny day corporation had the following financial information for the current year. prepare the investing and financing sections of cash flows.

Sunny Day Corporation had the following financial information for the current year. Prepare the investing and financing sections of the statement of cash flows. Sunny Day Corporation Income Statement For Year Ended December 31 Revenue: Sales Revenue 355,000 Expenses: Depreciation Expense Salaries Expense Rent Expense Utilities Expense Loss on Sale of Equipment Total Expenses 21.250 110,000 21,000 5,600 1,500 159.350 Net Income 195,650 Sunny Day Corporation Balance Sheet December 31 Assets: Cash Accounts Receivable Supplies Inventory Total Current Assets Current Last Year Year 394.450 332,600 90,000 60,000 1,750 1,250 195,000 290,000 681,200 683,850 Liabilities & Equity: Accounts Payable Taxes Payable Total Current Liabilities Long Term Notes Payable Current Year 56,900 3,800 60,700 85,000 Last Year 46,150 4,950 51,100 130,000 Common Stock Paid in capital in excess of par value, common stock Total Paid in Capital 285,000 280,000 240,000 215.000 525,000 495,000 Equipment Less: Accum Depreciation Total Plant Assets 158,000 181,500 (87,500) (96,500) 70,500 85,000 Retained Earnings TOTAL ASSETS 751,700 768,850 TOTAL LIABILITIES AND EQUITY 81,000 92.750 7 51.700 768,850 Additional Information: S haolinimente TOTAL ASSETS /51,700 768,850 TUTAL LIABILITIES AND EQUI T , 700 Additional Information: a. Old Equipment was sold for $45250 cash. The old equipment had an original cost of $77,000. b. New equipment was purchased for $53,500 cash. No deprecation will be recorded for this equipment in the current year. c. Long term note payable was paid in cash. No new notes were issued this year. d. Common stock was issued for cash. e. Cash dividends were paid to shareholders. Cash Flows from Investing Activities: Net Cash Used by Investing Activities Cash Flows from Financing Activities: Net Cash Used by Financing Activities Points possible: 1 This is attempt 1 of 2. Submit