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Remaining Time: 16 minutes, 51 seconds. Question Completion Status: Cash $117,000 $19,500 Notes Receivable 24,000 21,000 Supplies & Inventory 27,000 40,500 Prepaid expense 10,500 18,000 0 27,000 Long-term investments Machines and tools 55,500 48,000 Accumulated depreciation-equipment Total Assets (21,000) (15,000) $213.000 $159.000 Liabilities & Stockholders' Equity Accounts payable $ 25,500 $ 10,500 Bonds payable (long-term) 55,500 70,500 Common Stock 60,000 34,500 Retained Earnings 72,000 43.500 $213.000 $159,000 Total Liabilities & Stockholders' Equity Income Statement Information (2021): 1. Net income for the year ending December 31, 2021 is $43,500. 2. Depreciation expense is $6,000. 3. There is a loss of $3,000 resulted from the sale of long-term investment. Additional information (2021): 1. All sales and purchases of inventory are on account (or credit). 2. Received cash for the sale of long-term investments that had a cost of $27,000, yielding 3. Cash dividends paid is $15,000. 4. The company purchased new machines and tools for $7,500 cash. Required: Prepare the FIRST (Operating) and the SECOND (Investing) sections of the statement of & Stockholders' Equity Accounts payable Bonds payable (long-term) Common Stock Retained Earnings $ 25,500 $ 10,500 55,500 70,500 60,000 34,500 72,000 43.500 Total Liabilities & Stockholders' $213.000 $159.000 Equity Income Statement Information (2021): 1. Net income for the year ending December 31, 2021 is $43,500. 2. Depreciation expense is $6,000. 3. There is a loss of $3,000 resulted from the sale of long-term investment. Additional information (2021): 1. All sales and purchases of inventory are on account (or credit). 2. Received cash for the sale of long-term investments that had a cost of $27,000, yielding a $3,000 loss. 3. Cash dividends paid is $15,000. 4. The company purchased new machines and tools for $7,500 cash. Required: Prepare the FIRST (Operating) and the SECOND (Investing) sections of the statement of cash flows for the year ended December 31, 2021 Activ