1.) If an additional plot of land was purchased in 2020 for $8,000 and there was a loss of $1,500 on the sale of land purchased in a prior year, how much was the selling price of the land?

2.) If $52,000 of inventory was purchased during 2020, what is the company's inventory turnover ratio?

3.) If no land was sold during 2020, what was the company's cash flows from investing activities?

4.) How much was paid to suppliers during 2020 if cost of goods sold was $56,000?

2019 2020 2019 2020 Cash $2,800 $2,200 Accounts receivable $4,600 $8,000 Inventory $11,000 $13,500 Prepaid insurance $400 $750 Equipment $24,000 $28,000 Accum. Depreciation ($14,000) ($17,500) Land $18,000 $21,000 $46,800 $55,950 Accounts payable Wages payable Utilities payable Note payable Interest payable $3,600 $6,350 $1,000 $1,400 $2,200 $1,500 $24,000 $30,000 $1,600 $2,800 $12,000 $12,000 $2,400 $1,900 $46,800 $55,950 Common stock Retained earnings