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++xO B 16 Question Completion Statu Question The following comparative balance sheet is given for Extern Co Dec 31, 2021 Dec 31,2020 Cab $351,000 $58,500 News Receivable 72,000 63,000 81,000 121,500 Supplies & Inventory Prepaid expense 31,500 54,000 Long-term investments 81,000 0 166,500 Machines and tools 144,000 Accumulated depreciation equipment (63.000) (45.000) Total Assets $032.000 $477.000 Liabilities & Stockholders Equity Accounts payable $ 76,500 $ 31,500 Bonds payable (long-term) 166,500 211,500 Common Stock 180,000 103,500 Retained Earnings 216.000 130.500 Total Liabilities & Stockholders' Equity $639.000 $477.000 Income Statement Information (2921) t. Net income for the year ending December 31, 2021 $130,500 2 Depreciation expenses $18,000 3. There is a loss of $9,000 resulted from the sale of long-term investment Additional information (2021) 1 All sales and purchases of investory are on account (or credit) 2. Received cash for the sale of long-term investments that had a cost of $81,000, yielding a $9,000 1- 3. Cash dividends paid is $45,000 4. The company purchased new machines and tools for $22.500 cash Required: FIDCT SECOND 55555 B 160,000 103,500 Retained Earnings 216.000 130.500 Total Liabilities & Stockholders' Equity 5.639.000 $477.000 Income Statement Information (2021) 1. Net income for the year ending December 31, 2021 is $130,500 2. Depreciation expense is $18,000. 3. There is a loss of $9,000 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 $81,000, yielding a $9,000 loss. 3. Cash dividends paid is $45,000. 4. The company purchased new machines and tools for $22,500 cash Required: Prepare the FIRST (Operating) and the SECOND (Investing) sections of the statement of cash flows for the year ended December 31, 2021. (PLEASE PROVIDE EACH AMOUNT/ITEM IN A SEPARATE LINE) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) BIVS Paragraph V Arial Ev AV V 10pt I %0 P L 0 =