The comparative balance sheets for Metlock Corporation show the following information.

		December 31
		2020		2019
Cash		$33,400		$13,100
Accounts receivable		12,300		10,000
Inventory		12,200		9,100
Available-for-sale debt investments		0		2,900
Buildings		0		29,500
Equipment		45,400		20,200
Patents		5,000		6,200
		$108,300		$91,000
Allowance for doubtful accounts		$3,000		$4,500
Accumulated depreciationequipment		2,000		4,600
Accumulated depreciationbuilding		0		6,100
Accounts payable		5,000		2,900
Dividends payable		0		4,900
Notes payable, short-term (nontrade)		3,000		4,000
Long-term notes payable		31,000		25,000
Common stock		43,000		33,000
Retained earnings		21,300		6,000
		$108,300		$91,000

Additional data related to 2020 are as follows.

1.		Equipment that had cost $11,200 and was 40% depreciated at time of disposal was sold for $2,500.
2.		$10,000 of the long-term note payable was paid by issuing common stock.
3.		Cash dividends paid were $4,900.
4.		On January 1, 2020, the building was completely destroyed by a flood. Insurance proceeds on the building were $29,700 (net of $2,000 taxes).
5.		Debt investments (available-for-sale) were sold at $1,700 above their cost. The company has made similar sales and investments in the past.
6.		Cash was paid for the acquisition of equipment.
7.		A long-term note for $16,000 was issued for the acquisition of equipment.
8.		Interest of $2,000 and income taxes of $6,500 were paid in cash.

METLOCK CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income 15300 Adjustments to reconcile net income to Cash Flows from Operating Activities V Loss on Sale of Equipment V S 4220 Gain from Flood Damage -8300 Gain on Sale of Investments V - 1700 Depreciation Expense V 1900 Increase in Inventory V -2900 Increase in Accounts Receivable (Net) -3800 Increase in Accounts Payable 2100 Patent Amortization 1000 -7480 Net Cash Provided by Operating Activities 7820 Cash Flows from Investing Activities Purchase of Equipment V -20400 Sale of Equipment V 2600 Sale of Investments 4800 Proceeds from Flood Damage to Building V 31700 Net Cash Provided by Investing Activities 18700 Cash Flows from Operating Activities Payment of Short-term Note Payable -1000 Payment of Dividends -4900 Net Cash Provided by Financing Activities -5900 Net Increase in Cash 20300 Cash, January 1, 2020 13100 Cash, December 31, 2017 $ 33400 Supplemental disclosures of cash flow information: Cash Paid During the Year for Interest V $ 2000 Cash Paid During the Year for Income Taxes $ 6500 Noncash Investing and Financing Activities Retired Notes Payable by Issuing Common Stock V $ 10000 i Purchased Equipment by Issuing Notes Payable 16000 $ 26000