Pine Trees (PTI) presented the following statements for 2020:

Statement of Financial Position Statement of Income Pine Trees Inc Pine Trees Inc. As at December 31, 2020 For Year Ended December 31, 2020 Assets 2020 2019 Cash $25,200 $18,000 Revenues Accounts Receivable 43,800 45,000 Sales Revenue $228,000 Short-term Investment 24,000 9,000 Inventory 45,000 42,000 Expenses Land 30,000 36,000 Cost of goods sold $78,000 Buildings and equipment 330,000 240,000 Salaries expense 27,000 Less: Accumulated Depreciation -69,000 -45,000 Depreciation expense 24,000 $429,000 $345,000 Interest expense 7,200 Loss on sale of land 1,800 Liabilities Income tax expense 42,000 Accounts payable $16,800 $21,000 Salaries Payable 1,200 3,000 Net Income $48,000 Interest payable 3,000 1,800 Income tax payable 5,400 7,200 Mortgage payable 0 18,000 Bonds payable 96,000 60,000 Shareholders' Equity Common Stock $225,600 $180,000 Retained Earnings 81,000 54,000 $429,000 $345,000

During the year, PTI did not purchase any new land and did not dispose of any buildings and equipment. PTI follows IFRS. Answer the following questions based on the information provided. For numerical answers, please do not use comma (i.e. 100,000 should be typed as 100000). For all calculations, keep all decimals in your steps and round final answer to 2 decimal places. a. What is the proceed from the sale of land? Answer (2 marks) b. What is the purchase price of the building/equipment? Answer (1 mark) c. Independent from the questions above. If PTI had reported interest income, where would the interest received be classified on its Statement of Cashflows? Answer (1 mark) d. If interest paid is classified as cash outflow from operating activities and dividends paid is classified as cash outflow from financing activities, what is the net cashflows from operating activities? Use - for net cash outflows. $ Answer Show your calculations for full marks Answer (10 marks) e. If interest paid is classified as cash outflow from operating activities and dividends paid is classified as cash outflow from financing activities, what is the net cashflows from investing activities? Use - for net cash outflows. $ Answer Show your calculations for full marks Answer (3 marks) f. What is the quick ratio in 2020? Answer (2 marks) g. What is the current cash debt coverage ratio in 2020? Answer Show calculations for full marks Answer (2 marks) h. What is the times interest earned in 2020? Answer Show your calculations for full marks Answer (3 marks) i. Independent from the questions above. PTI purchased materials from ABC Inc. on account and at the same time provided services to ABC Inc. on account. Once in 3 months, either PTI or ABC would send a cheque to the other party to settle the net balance owed. How should PTI present the AR and AP balances with ABC Inc., if the net balance shows PTI owes ABC? Answer (1 mark) j. Independent from the questions above. Included in PTIs short term investments are shares of companies traded on the Toronto Stock Exchange. Which of following items on its balance sheet are considered monetary assets? Answer (1 mark)