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Income Statement for the year ended December 31, 2020 (millions of $) Revenue (sales) $773 Cost of goods sold 595 Selling, general, and administrative expenses*

Income Statement for the year ended December 31, 2020 (millions of $)

Revenue (sales)

$773

Cost of goods sold

595

Selling, general, and administrative expenses*

130

Loss on disposal of plant**

6

Interest expense

12

Income tax expense

10

Net income

$ 20

*Includes depreciation expense of $30 million, insurance expense of $8 million, bad debt expense of $6 million, and salaries expense of $86 million.

** During 2020, the company purchased two pieces of equipment costing a total of $36 million. Summer Fun also incurred a loss of $6 million on the sale of a plant.

Balance Sheet at December 31 (millions of $)

2020

2019

Cash

$ 15

$ 2

Accounts receivable, net

93

79

Inventory

132

120

Prepaid insurance

6

8

Property, plant, and equipment, gross

195

182

Accumulated depreciation

55

35

Total assets

$386

$356

Accounts payable (inventory)

$ 40

$ 43

Interest payable

5

2

Deferred revenue

4

3

Short-term bank loans

20

35

Long-term debt

115

105

Common stock and additional paid-in capital

105

90

Retained earnings

97

78

Total liabilities and equity

$386

$356

Question 1: 2020 cash flow from financing activities is a net cash inflow of:

Question 2: 2020 cash flow from operating activites is a net cash inflow of:

Question 3: If the company used the direct method of reporting cash flow from operating activities, the amount of "Cash paid for interest" in 2020 would be:

Question 4: Based on the information above, the company's 2020 cash flow from investing activities should inlclude a cash inflow from the sale of the plant totaling:

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