1. The following information is from Direct to You Corp.s (DYC) financial records for its year ended December 31, 2020:

Select statement of financial position information:	2020	2019
Investments in financial assets (at fair value through profit or loss [FVPL])	12,000	10,000
Inventory	575,000	498,000
Property, plant, and equipment (PPE)	1,984,000	1,396,000
Less: accumulated depreciation	(650,400)	(487,000)
Copyright	126,000	135,000
Patents	564,000	417,000

Select statement of comprehensive income information:
Depreciation of property, plant, and equipment	(334,400)
Amortization of patents	(65,000)
Interest expense	(75,000)
Impairment loss copyright	(9,000)
Gain on sale of PPE	23,000

Additional information:

• PPE that originally cost $570,000 was sold during the year.
• 100,000 common shares were issued in 2020 to acquire $450,000 of property, plant, and equipment.
• DYC is subject to IFRS.

What amount of net cash used in investing activities will DYC report on its statement of cash flows for its year ended December 31, 2020?

Question 19 options:

a)	$433,000 cash outflow

b)	$500,000 cash outflow

c)	$498,000 cash outflow

d)	$521,000 cash outflow

2. Steven is preparing the cash flow statement for Light Fixtures Inc. (LFI), a public company. Below is an extract of selected information from the companys statement of financial position and statement of comprehensive income.

	2020	2019
Current portion of long-term debt	$30,000	$60,000
Long-term debt	790,000	850,000
Common shares	140,000	160,000
Preferred shares	35,000
Retained earnings	1,431,000	1,205,000

Other information available:

• Interest paid was $48,000.
• During the year, LFI repurchased common shares for $29,000. No other shares were issued during the year.
• Net profit for the year was $275,000.
• LFI follows IFRS and reports interest paid and dividends paid as financing activities.
• There were no dividends payable at the end of 2019 or 2020.

What is the total cash flow related to financing activities for the year?

Question 20 options:

a)	$181,000 cash outflow

b)	$172,000 cash outflow

c)	$163,000 cash outflow

d)	$142,000 cash outflow