Chapter 13 Practice Problem \#2 Instructions: Use the Financial Statements to create a Statement of Cash Flows for the Year Ended December 31, 2019. Additional Information: 1) A loss of $50,000 was recorded for the sale of long-term investments. 2) Cash received from the sale of long-term investments was $150,000. 3) Cash used to purchase land was $2,390.000. 4) Cash used to purchase equipment was $1,280,000. 5) Dividends declared were $80,000. 6) Cash received from the issuance of notes payable was $412,550. 7) The company issued additional common stock. Chapter 13 Practice Problem \#2