The comparative balance sheets and income statements for Gypsy Company follow. Additional Data 1. During Year 2, the company sold equipment for $18,519; it had originally cost $29,000. Accumulated depreciation on this equipment was $11,181 at the time of the sale. Also, the company purchased equipment for $7,240cash. 2. The company sold land that had cost $3,490. This land was sold for $3,400, resulting in the recognition of a $90 loss. Also, common stock was issued in exchange for tite to land that was valued at $12,000 at the time of exchange. 3. Paid dividends of $8,766. Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities