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The following information was drawn from the year-end balance sheets of Finch Trading Company: Account Title Investment securities Equipment Buildings Land 2017 $ 34,500 219,000
The following information was drawn from the year-end balance sheets of Finch Trading Company: Account Title Investment securities Equipment Buildings Land 2017 $ 34,500 219,000 862,500 90,500 2016 $ 28,300 209,500 946,500 53,000 Additional information regarding transactions occurring during 2017: 1. Investment securities that had cost $6,290 were sold. The 2017 income statement contained a loss on the sale of investment securities of $630. 2. Equipment with a cost of $60,000 was purchased. 3. The income statement showed a gain on the sale of equipment of $6,800. On the date of sale, accumulated depreciation on the equipment sold amounted to $6,500. 4. A building that had originally cost $165,000 was demolished. 5. Land that had cost $25,200 was sold for $21,100. Required a. Determine the amount of cash flow for the purchase of investment securities during 2017 b. Determine the amount of cash flow from the sale of investment securities during 2017 c. Determine the cost of the equipment that was sold during 2017 d. Determine the amount of cash flow from the sale of equipment during 2017 e. Determine the amount of cash flow for the purchase of buildings during 2017 f. Determine the amount of cash flow for the purchase of land during 2017 g. Prepare the investing activities section of the 2017 statement of cash flows. Complete this question by entering your answers in the tabs below. Reqs A to F Req G Prepare the investing activities section of the 2017 statement of cash flows. (Cash outflows should be indicated with minus sign.) FINCH TRADING COMPANY Statement of Cash Flows (Investing Activities) For the Year Ended December 31, 2017 Cash Flows from Investing Activities: Net cash flow from investing activities
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