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P17.4A (LO 2) AP Trudeau Inc. is a private company reporting under ASPE. The following selected account balances were reported in Trudeau Inc.'s financial statements at year end: Calculate cash flows for investing and financing activities. 2021 2020 Cash Building $ 22,125 850,000 393,000 $ 10,000 750,000 340,000 60,000 Equipment Land 100,000 Accumulated depreciation-building 307,500 300,000 Accumulated depreciation-equipment 124,000 94,000 Dividends payable 6,250 545,000 2,500 585,000 Mortgage payable Notes payable 340,000 310,000 Common shares: 46,000 shares in 2021; 40,000 in 2020 807,000 685,000 Retained earnings 200,000 100,000 Cash dividends declared 25,000 10,000 Depreciation expense-buildings 25,000 42,500 Depreciation expense-equipment 49,125 27,000 Gain on sale of equipment 1,000 0 Loss on sale of building 10,000 0 Interest expense 48,250 44,750 Additional information: 1. Purchased $75,000 of equipment for $10,000 cash and a note payable for the remainder. 2. Equipment was also sold during the year. 3. Sold a building that originally cost $50,000. 4. Used cash to purchase land and a building. 5. Mortgage payments and notes payable payments included interest and principal amounts. 6. Common shares were issued for cash. Instructions a. Determine the amount of any cash inflows or outflows related to investing activities in 2021. (Hint: Use T accounts to calculate the cash flows.) b. What was the amount of profit reported by Trudeau Inc. in 2021? c. Determine the amount of any cash inflows or outflows related to financing activities in 2021. (Hint: Use T accounts to calculate the cash flows.) d. Identify and determine the amount of any noncash financing activities in 2021. e. Calculate the cash operating activities. (Hint: Using the cash balances provided, calculate increase or decrease in cash first.)