The Foress Storage Company had the following balances in its Equipment and Accumulated Depreciation on Equipment accounts at the beginning and end of 2021:

		January 1			December 31
Equipment		$104,200			$131,300
Accumulated depreciation, equipment		33,900			20,600

During 2021, Foress engaged in the following transaction involving equipment: Sold equipment that originally cost $24,200 and had a current book value of $8,070 for $16,700. This was the only sale of equipment. Net income for 2021 was $360,500.

How much equipment-related depreciation expense did the Foress Storage Company record during 2021?

Depreciation expense

$_________________________

What was the cost of equipment purchased during the year?

Cost of equipment purchased

$_____________________

Using this limited information, prepare the operating and investing activities sections of the statement of cash flows. Here you will assume that there were no changes in current asset and current liability accounts other than cash. (Enter amounts that decrease cash flow either with a negative sign preceding the number, e.g. -15,000 or parenthesis e.g. (15,000).)

* Options for drop downs:

Column 1:

• Cash flows from investing activities
• Net cash provided by operating activities
• Net cash used in operating activities
• Net cash used in investing opportunities
• Adjustments of net income to cash basis
• Cash flows from operating activities
• Net cash provided by investing activities

Column 2:

• Depreciation
• Loss of sale on equipment
• Net income
• Gain on sale of equipment
• Cash received from sale of equipment
• Purchase of equipment

Column 3:

• Cash flows from investing activities
• Net cash used in investing activities
• Net cash provided by investing activities
• Adjustments of net income to cash basis
• Cash flows from operating activities
• Net cash used in operating activities
• Net cash provided by operating activities

Column 4 & 5:

• Depreciation
• Loss of sale on equipment
• Net income
• Gain on sale of equipment
• Cash received from sale of equipment
• Purchase of equipment

Column 6 & 7:

• Cash flows from investing activities
• Net cash used in investing activities
• Net cash provided by investing activities
• Adjustments of net income to cash basis
• Cash flows from operating activities
• Net cash used in operating activities
• Net cash provided by operating activities

Column 8 & 9:

• Depreciation
• Loss of sale on equipment
• Net income
• Gain on sale of equipment
• Cash received from sale of equipment
• Purchase of equipment

Column 10:

• Cash flows from investing activities
• Net cash used in investing activities
• Net cash provided by investing activities
• Adjustments of net income to cash basis
• Cash flows from operating activities
• Net cash used in operating activities
• Net cash provided by operating activities

Please help me solve this problem and do note your steps please! Thank you in advance!!

Foress Storage Company Statement of Cash Flows For the Year Ended December 31, 2021 $ $ $ $ HA