The records of Koop Co. provided the following information for the year ended 31 December 20X8: Statement of Comprehensive Income For year ended 31 December 20X8 Sales revenue Cost of goods sold Depreciation expense Insurance expense Interest expense $479,900 (349,300) (26,800) (2,800) (5,600) Salaries and wages expense (33,600) Remaining expenses (36,400) Loss on sale of equipment (5,600) Income tax expense (19,400) Net earnings and comprehensive income $ 400 Statement of Financial Position As of 31 December 20X8 20X7 Cash $170,800 $ 93,200 Accounts receivable 86,800 Inventory 43,400 76,000 26,400 Prepaid interest 3,600 6,400 Buildings and equipment 208,200 205,900 Accumulated depreciation (54,000) (53,400) Land Total 208,600 $667,400 107,000 $461,500 Accounts payable. $ 54,600 Wages payable 5,600 $ 47,800 10,800 Income tax payable Notes payable, long-term Common shares Retained earnings 15,400 156,800 81,400 400,400 271,600 34,600 49,900 Total $667,400 $461,500 Additional Information: a. Sold equipment for cash (cost, $39.800; accumulated depreciation. $24,800). b. Purchased land, $52,400 cash. c. Acquired land for $49,200 and issued common shares as payment in full. d. Acquired equipment, cost $43,500, Issued a $43,500, three-year, interest-bearinn note nasle Required: Prepare the SCF, using the two-step indirect method. Analyze every account to ensure all changes are included. Assume unexplained changes are from logical sources. (Deductible amounts and Cash outflows should be indicated with minus sign.) Operating activities KOOP COMPANY Statement of Cash Flows For the year ended 31 December 20X8 Adjustments for non-cash items: Changes in current assets and current labilities: Investing activities: $ O $ 0 Financing activities Operating activities: KOOP COMPANY Statement of Cash Flows For the year ended 31 December 20X8 Adjustments for non-cash items: Changes in current assets and current liabilities: Investing activities: Financing activities Cash balance beginning of the year Cash balance end of the year $ 0 $ S 0 Following is a list of non-cash transaction to be disclosed. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) 7 Land of $49.200 acquired for common shares 7 Equipment of $43,500 acquired for note payable. Land of $43,500 acquired for common shares. Equipment of $49.200 acquired for note payable Prepare separate disclosure of cash paid for interest and income tax, as is required by ASPE. (Deductible amounts and Cash outflows should be indicated with minus sign.) Cash pad for interest Cash paid for income tax