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Additional information: During the year, equipment with an original cost of $88,000 was...

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Accounting

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Additional information:
During the year, equipment with an original cost of $88,000 was sold for cash.
Grand Corp.'s 20X2 financial statements showed the following: $450,000 Sales Cost of goods sold Depreciation Other operating expenses Income tax Loss on sale of equipment Gain on sale of investment Net earnings and comprehensive income $171,000 22,400 67,100 38,600 2,700 (1,900) 299,900 $150, 100 As at December 31 Cash Accounts receivable Inventory Equipment Less: accumulated depreciation Investment Total Accounts payable Income tax payable Bonds payable Common shares Retained earnings Total 20x2 $ 61,100 78,900 165,400 490,300 (203,600) 48,200 $ 640,300 $ 54,700 8,800 40,300 271,000 265,500 $ 640,300 20X1 $ 48,700 90,600 154,800 419,400 (202,100) 69,700 $ 581,100 $ 91,800 6,200 271,000 212,100 581,100 1. Prepare the SCF. (Deductible amounts and Cash outflows should be indicated with minus sign.) GRAND CORP Statement of Cash Flows For the year ended 31 December 20X2 Operations: $ 0 $ 0 Investing activities: 0 Financing activities

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