The excerpts that follow are adapted from financial statements of a Canadian not-for profit organization.

{Requirements}
1. How much was the entity's cost of property, plant, and equipment at March 31, 2020? How much was the carrying amount of property, plant, and equipment? Show computations.
2. The financial statements give four pieces of evidence that the entity purchased property, plant, and equipment and sold long-term investments during 2020. What is the evidence?
3. Prepare T-accounts for Property, Plant and Equipment, Accumulated Depreciation, and Long-Term Investments. Then show all the activity in these accounts during 2020. Label each increase or decrease and give its dollar amount.
4. Why is depreciation added to net income on the statement of cash flows?

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(amounts in thousands) Balance Sheet Assets Total current assets. Property, plant, and equipment Less accumulated depreciation. Long-term investments.... March 31 2020 2019 $277,631 $261,015 68.406 61.225 (26,909) (22.725) 108,302 147,165 For the Year Ended March 31 Consolidated Statement of Cash Flows Operating excess of revenues over expense... Noncash items affecting net income: 2020 2019 $13,068 $ 15,321 Depreciation...... 4.184 3,748 Cash flows from investing activities: Additions to property, plant, and equipment. (7,181) (8,623) Reduction of (addition to) long-term investments.. 38,863 (96,316)