B. The Balance Sheets of THE LINC CORPORATION as of December 31, Year 2019, and Year 2018, and its statement of income and retained earnings for the year ended December 31, year 2019, are as follow: THE LINC CORPORATION Balance Sheets December 31, Year 2019 and Year 2018 Year 2019 Year 2018 Increase (Decrease) Assets Cash........ Account receivable... Inventories.... Investment in Ort Inc., at equity. Land....... Plant and equipment... Accumulated depreciation....... Goodwill...... RM 275,000 295,000 549,000 73,000 350,000 624,000 (139,000) 16,000 180,000 305,000 431,000 60,000 200,000 606,000 (107,000) 20,000 95,000 (10,000) 118,000 13,000 150,000 18,000 (32,000) (4,000) Total Assets..... 2,043,000 1,695,000 348,000 Year 2019 Year 2018 Increase (Decrease) Liabilities and Stockholder's Equity 563,000 Account payable Accrued expenses Bonds payable Deferred income taxes Common stock, par RM10 Additional paid-in capital Retained earnings Treasury stock, at cost 604,000 150,000 160,000 41,000 430,000 226,000 432,000 210,000 30,000 400,000 175,000 334,000 (17,000) 41,000 150,000 (50,000) 11,000 30,000 51,000 98,000 17,000 Total liabilities and equity RM 2,043,000 1,695,000 348,000 MATRIC NO: THE LINC CORPORATION Statement of Income and Retained Earnings For Year Ended December 31, Year 2019 RM RM 1,937,000 13,000 1,950,000 (1,150,000) Net sales......... Undistributed income from HP Inc. Total net revenue. Cost of sales...... Gross income....... Depreciation expenses. Amortization of goodwill.. Other expense (including income taxes).. 800,000 32,000 4,000 623,000 (659,000) Net income 141,000 Retained earnings, January 1, Year 2019 334,000 Cash dividends paid....... 475,000 (43,000) Retained earnings, December 31, Year 2019 432,000 Additional information: a. Capital stock is issued to provide additional cash b. All accounts receivable and payable relate to operations C. Accounts payable relate only to items included in cost of sales d. There are no non cash transactions Required: Determine the following amounts: i. Cash collected from sales during Year 2019. (5 marks) ii. Cash payments on accounts payable during Year 2019. (5 marks) iii. Cash receipts during Year 2019 not provided by operations. (3 marks) iv. Cash payments for non-current assets purchased during Year 2019. (3 marks) B. The Balance Sheets of THE LINC CORPORATION as of December 31, Year 2019, and Year 2018, and its statement of income and retained earnings for the year ended December 31, year 2019, are as follow: THE LINC CORPORATION Balance Sheets December 31, Year 2019 and Year 2018 Year 2019 Year 2018 Increase (Decrease) Assets Cash........ Account receivable... Inventories.... Investment in Ort Inc., at equity. Land....... Plant and equipment... Accumulated depreciation....... Goodwill...... RM 275,000 295,000 549,000 73,000 350,000 624,000 (139,000) 16,000 180,000 305,000 431,000 60,000 200,000 606,000 (107,000) 20,000 95,000 (10,000) 118,000 13,000 150,000 18,000 (32,000) (4,000) Total Assets..... 2,043,000 1,695,000 348,000 Year 2019 Year 2018 Increase (Decrease) Liabilities and Stockholder's Equity 563,000 Account payable Accrued expenses Bonds payable Deferred income taxes Common stock, par RM10 Additional paid-in capital Retained earnings Treasury stock, at cost 604,000 150,000 160,000 41,000 430,000 226,000 432,000 210,000 30,000 400,000 175,000 334,000 (17,000) 41,000 150,000 (50,000) 11,000 30,000 51,000 98,000 17,000 Total liabilities and equity RM 2,043,000 1,695,000 348,000 MATRIC NO: THE LINC CORPORATION Statement of Income and Retained Earnings For Year Ended December 31, Year 2019 RM RM 1,937,000 13,000 1,950,000 (1,150,000) Net sales......... Undistributed income from HP Inc. Total net revenue. Cost of sales...... Gross income....... Depreciation expenses. Amortization of goodwill.. Other expense (including income taxes).. 800,000 32,000 4,000 623,000 (659,000) Net income 141,000 Retained earnings, January 1, Year 2019 334,000 Cash dividends paid....... 475,000 (43,000) Retained earnings, December 31, Year 2019 432,000 Additional information: a. Capital stock is issued to provide additional cash b. All accounts receivable and payable relate to operations C. Accounts payable relate only to items included in cost of sales d. There are no non cash transactions Required: Determine the following amounts: i. Cash collected from sales during Year 2019. (5 marks) ii. Cash payments on accounts payable during Year 2019. (5 marks) iii. Cash receipts during Year 2019 not provided by operations. (3 marks) iv. Cash payments for non-current assets purchased during Year 2019