MKH Company Comparative Balance Sheets For the year ended December 31 20X1 20x0 Change Current assets $324,700 $217,600 $107,100 Cash Accounts receivable 132,600 165,200 (32,600) Inventory 175,100 137,200 37,900 Prepaid rent 25,500 14.400 11.100 Total current assets $657,900 $534,400 $123,500 Long-term assets Land $326,400 $345,600 ($19,200) 321,300 (35,000) Equipment (net) Total long-term assets Total assets 356,300 $701,900 $647,700 $(54,200) $1,305,600 $1,236,300 $69,300 $145,800 $131,200 $14,600 Current liabilities Accounts payable Salaries payable Interest payable Total current liabilities 18,700 4,800 13,900 32,300 27.200 5.100 $196,800 $163,200 $33,600 Long-term liabilities $321,400 $469,800 ($148,400) Bonds payable Stockholders' equity Common stock Retained earnings Total liabilities and equity $535,800 $434,900 $100,900 251,600 168,400 83.200 $1,305,600 $1,236,300 $69,300 Additional Information for MKH Co. in 20X1: 1. Net income for year 20X1 was $216,000. 2. The company declared and paid a cash dividend of $132,800. 3. The only posting to the net equipment account was for depreciation expense of $35,000 (i.e., no equipment was sold). 4. MKH sold land worth $19,200 for $8,000 cash. 5. The company retired $148,400 worth of bonds payable at the beginning of the year. 1. What was the loss on the sale of land recorded by MKH Company in 20X1? $11,200 $8,000 $0 $19,200 2. What were MKH Company's cash flows from (for) operating activities in 20X1? $268,200 ($180,300) $279,400 $233,100 3. What were MKH Company's cash flows from (for) investing activities in 20X1? $11,200 $0 $19,200 $8,000 4. What were MKH Company's cash flows from (for) financing activities in 20X1? ($47,500) ($97,100) ($180,300) ($116,500)