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please answer in the format in the question please, You are presented with the following data from Jake Doyle Inc. for the year ended 31
please answer in the format in the question please,
You are presented with the following data from Jake Doyle Inc. for the year ended 31 December 20X1. JAKE DOYLE INC. Statenent of Comprehensive Income For the year ended 31 December 2601 Sales Cost of goods sold $1,528,009 Depreciation expense (691,509) Interest expense (79,509) Income tax expense (19,309) other expenses Loss on sale of operational assets Gain on sale of investments Net earnings and conprehensive income (57,569) (459,769) (9,769) 7,649$226,849 Additional information: a. Sold property, plant, and equipment for cash. Cost of the assets was $241,000; net book value was $78,500. b. Purchased equipment and exchanged unissued bonds payable of $125,000 in payment. c. Purchased other equipment for cash. d. Sold the long-term investments for cash. Required: 1. Calculate cash pald for Interest and Income taxes, which are Items required to be separately disclosed under ASPE. 2. Prepare the Investing section of the SCF and any disclosure notes for non-cash Investing actIlitlesStep by Step Solution
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