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20. Sheridan Company's balance sheet accounts as of December 31, 2021 and 2020 and information relating to 2021 activities are presented below.

	December 31,
	2021		2020
Assets
Cash	$ 438000		$ 198000
Short-term investments	602000
Accounts receivable (net)	1030000		1030000
Inventory	1390000		1200000
Long-term investments	400000		602000
Plant assets	3410000		2010000
Accumulated depreciation	(899000)		(899000)
Patent	182000		201000
Total assets	$6553000		$4342000
Liabilities and Stockholders' Equity
Accounts payable and accrued liabilities	$1660000		$1460000
Notes payable (nontrade)	581000
Common stock, $10 par	1623000		1380000
Additional paid-in capital	798000		499000
Retained earnings	1891000		1003000
Total liabilities and stockholders' equity	$6553000		$4342000

Information relating to 2021 activities: Net income for 2021 was $1490000. Cash dividends of $602000 were declared and paid in 2021. Equipment costing $990000 and having a carrying amount of $320000 was sold in 2021 for $360000. A long-term investment was sold in 2021 for $320000. There were no other transactions affecting long-term investments in 2021. 24300 shares of common stock were issued in 2021 for $25 a share. Short-term investments consist of treasury bills maturing on 6/30/22. Net cash used in Sheridans 2021 investing activities was

a. $1710000. b. $1832000. c. $2312000 d. $1670000

21. The balance sheet data of Coronado Industries at the end of 2021 and 2020 follow:

	2021			2020
Cash	$ 108000			$ 138000
Accounts receivable (net)	238000			182000
Inventory	279000			179000
Prepaid expenses	40000			100000
Buildings and equipment	362000			302000
Accumulated depreciationbuildings and equipment	(73000	)		(34000	)
Land	362000			159000
Totals	$1316000			$1026000
Accounts payable	$271000			$222000
Accrued expenses	47000			73000
Notes payablebank, long-term				148000
Mortgage payable	121000
Common stock, $10 par	846000			643000
Retained earnings (deficit)	31000			(60000	)
	$1316000			$1026000

Land was acquired for $203000 in exchange for common stock, par $203000, during the year; all equipment purchased was for cash. Equipment costing $23000 was sold for $9000; book value of the equipment was $18000 and the loss was reported as an ordinary item in net income. Cash dividends of $29000 were charged to retained earnings and paid during the year; the transfer of net income to retained earnings was the only other entry in the Retained Earnings account. In the statement of cash flows for the year ended December 31, 2021, for Coronado Industries: The net cash provided (used) by investing activities was a. $(270000). b. $51000. c. $(83000). d. $(74000)

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