View Policies Current Attempt in Progress Sunland Inc. is a private company reporting under ASPE. The following selected account balances were reported in Sunland Inc's financial statements at year end: 2021 $ 19,350 Cash 2020 $ 8,900 743,000 852.000 Buildings Equipment Land 405,000 351,400 103,000 58,500 309,000 296,000 133,000 99.500 6,650 3,100 548,200 588,200 344,000 313,000 543,000 414,000 Accumulated depreciation-buildings Accumulated depreciation-equipment Dividends payable Mortgage payable Notes payable Common shares: 5,480 shares in 2021:4,080 in 2020 Retained earnings Cash dividends declared Depreciation expense-buildings Depreciation expense-equipment Gain on sale of equipment Loss on sale of building 209,000 110,000 29,000 13.200 26,500 40,400 47,905 26,050 980 0 11.100 0 Interest expense 49,050 44,950 1. 1 2 2. Additional information: Purchased $79,000 of equipment for $11,600 cash and a note payable for the remainder. Equipment was also sold during the year. Sold a building that originally cost $54,000. Used cash to purchase land and a building Mortgage payments and notes payable payments included interest and principal amounts. Common shares were issued for cash. 3. . 4. 5. 6. Determine the amount of any cash inflows or outflows related to investing activities in 2021. (Hint: Use T accounts to calculate the cash flows.) (Show amounts that decrease cash flow with either a-signes -15,000 or in parenthesis eg. (15,000).) SUNLAND INC. Cash Flow Statement (Partial) $ What was the amount of proft reported by Sunland Inc. in 2021? Amount of profit $ eTextbook and Media Question Part Score --/0.5 Determine the amount of any cash inflows or outflows related to financing activities in 2021. (Hint: Use Taccounts to calculate the cash flows.) (Show amounts that decrease cash flow with either a-sign eg. -15,000 or in parenthesis eg. (15,000).) SUNLAND INC. Cash Flow Statement (Partial) $ ( > $ e Textbook and Media SUNLAND INC. Cash Flow Statement (Partial) $