ting activity, (3) a finance ation are becoming the aring her statement ets and some additional 226 Chapter 4 Required: Identify each activity as (1) an operating activity, (2) an investing act activity (4) a non-cash activity, or (5) none of the above. Problem 25 The operations of North Shore Motel, a small lodging operation complex. Lu Wong, the owner, has asked for your help in preparin cash flows. She is able to present you with condensed balance sheets and information. North Shore Motel Condensed Balance Sheets December 31, 20X1 and 20X2 20X1 Cash $ 10,000 Accounts Receivable 46,500 Investments Building l a 2,000,000 Equipment 200,000 Accumulated Depreciation (200,000) Total Assets $ 2,086,500 Current Liabilities: Accounts Payable $ 18,000 Mortgage Payable (current) 55,000 Dividends Payable 25,000 Noncurrent Liabilities: Mortgage Payable (long-term) 1,575,000 Note Payable De sido Common Stock 200,000 Retained Earnings 213,500 Total Liabilities and Owners' Equity les and Owners' Equity 1 $ 2,086,500 20,000 20X2 $ 6,000 45,500 25,000 2.000.000 325,000 (250,000 $2,151,000 $ 21,000 55,000 25,000 1,520,000 40.000 300.000 190,500 $ 2.151.500 Additional information: 1. Equipment costing $20,000, depreciated to one half its cost, was sold for $8,00 2. Common stock, purchased as a long-term investment for $5,000, was sold for SS 3. Dividends declared during 20X2 totaled $50,000. 4. Equipment costing $145,000 was purchased during 20X2. 5. Depreciation expense for 20X2 totaled 30,000. 6. Long-term debt of $55,000 was reclassified as current at the end of 20 7. Common stock of $100,000 was sold during 20X2. 8. The North Shore Motel generated net income of $27,000 during 20x2. Required: Prepare the cash from financing activities section of the SCF