The following transactions were undertaken by Porschet Ltd during the financial year ended 30 June 2020 (ignore GST):

1. issued ordinary shares for cash, $1 000 000 

2. purchased land to be held for future expansion for $900 000 cash 

3. paid off a long‐term $360 000 loan plus interest of $32 000 

4. sold for $480 000 used cars with a carrying amount of $200 000 

5. paid cash dividends of $220 000 

6. purchased machinery factory, giving $120 000 cash and signing a mortgage loan for $400 000 

7. purchased shares in MBW Ltd to be held as an investment for $400 000 cash 

8. sold a long‐term government bond, with a carrying amount of $100 000, for $198 000, including $12 000 accrued interest 

9. purchased shares in Forden Ltd to be held as a long‐term investment, paying $380 000 cash 

10. issued 5% debentures for $1 400 000.

Required

(a) Prepare the net cash flow used in the investing activities section of the statement of cash flows using the classification shown in illustrative example A of IAS 7/AASB 107.

(b) Prepare the net cash used in the financing activities section of the statement of cash flows using the classification shown in illustrative example A of IAS 7/AASB 107.