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Question - Carla Vista Inc. is a private company reporting under ASPE. The following selected account balances were reported in Carla Vista Inc.'s financial statements at year end:
2021
2020
Cash
$19,425
$8,950
Buildings
853,500
744,000
Equipment
406,000
352,200
Land
104,000
59,250
Accumulated depreciation-buildings
309,500
296,750
Accumulated depreciation-equipment
134,000
100,250
Dividends payable
6,700
3,150
Mortgage payable
548,600
588,600
Notes payable
344,500
313,500
Common shares: 5,490 shares in 2021; 4,090 in 2020
543,500
414,500
Retained earnings
210,000
111,000
Cash dividends declared
29,500
13,600
Depreciation expense-buildings
26,750
40,450
Depreciation expense-equipment
47,955
26,100
Gain on sale of equipment
990
0
Loss on sale of building
11,300
Interest expense
49,150
45,050
Additional information:
1. Purchased $79,500 of equipment for $11,800 cash and a note payable for the remainder.
2. Equipment was also sold during the year.
3. Sold a building that originally cost $54,500.
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.
Required - Determine the amount of any cash inflows or outflows related to investing activities in 2021.
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