The comparative statement of financial position and income statement for Al Quds Company presented below. Al Quds Company Comparative Statement of Financial Position December 31. 2019 2018 Assets Equipment 270,000 262,000 Accumulated Depreciation (118,000) (109,000) Prepaid Insurance 10,000 9,000 Merchandise Inventory 52.000 46,000 Accounts Receivables 123,000 107.000 Cash 56,000 47.000 Total 393,000 362,000 Equity and Liabilities Share Capital Ordinary 213,000 200,000 Retained Earnings 30,000 7.000 Bonds Payable 120,000 130,000 Accrued Expense Payable 5,000 9,000 Income Tax Payable 7,000 5,000 18,000 11,000 Accounts Payable Total 393,000 362,000 Al Quds Company Income Statement For the year ended December 31,2019 Al Quds Company Income Statement For the year ended December 31,2019 Net Sales - 339,000 Cost of Goods sold 908,000 Gross Profit 431,000 Add: Gain on Equipment Sold 3,000 Less: 346,000 Operating Expense Depreciation Expense 24,000 Interest Expense 14,000 Income Tax 12,000 Net Income 38,000 Additional Information: 1. Equipment with a cost of $24,000 and accumulated depreciation $15,000 was sold for $12,000 cash, and additional equipment was purchased for Goth $32,000 2. Bonds redeemed for cash. Additional ordinary shares ksued for cash 1. Dividends declared and paid for $15.000 cash, Instructions Prepare Cash flow from Investing Activities for the year ended December 31, 2019 Additional Information: 1. Equipment with a cost of $24,000 and accumulated depreciation $15,000 was sold for $12,000 cash, and additional equipment was purchased for cash $32,000. 2. Bonds redeemed for cash. Additional ordinary shares issued for cash 3. Dividends declared and paid for $15,000 cash. Instructions Prepare Cash Flow from Investing Activities for the year ended December 31, 2019 Cash flow from Investing activities Sale of equipment Purchase of Equipment Net Cash flow from investing 24,000 (32,000) (8,000) Cash flow from Investing Activities Sale of equipment Purchase of Equipment Net Cash flow from investing 12,000 32,000) (20,000) Cash Flow From Investing Activities 032,000) Purchase or Equipment Net Cash flow from investing (32,000) Cash flow from Investing Activities Sale of equipment Purchase of Equipment Net Cashow from investing 15,000 02.000) (17,000