The balance sheets of Pacific Corporation at the end of 2020 and 2019 are as follows:

2020 2019

Cash $ 100,000 $ 140,000

Accounts receivable (net) 240,000 180,000

Inventory 280,000 180,000

Prepaid expenses 40,000 100,000

Buildings and equipment 360,000 300,000

Accumulated depreciationbuildings and equipment (72,000) (32,000)

Land 360,000 160,000

Totals $1,308,000 $1,028,000

Accounts payable $272,000 $220,000

Accrued expenses 48,000 72,000

Notes payablebank, long-term 160,000

Mortgage payable 120,000

Common stock, $10 par 836,000 636,000

Retained earnings (deficit) 32,000 (60,000)

$1,308,000 $1,028,000

Additional information: Land was acquired for $200,000 in exchange for common stock during the year; all equipment purchased was for cash. Equipment with original cost of $20,000 was sold for cash and the transaction created a loss of $5,000 reported as an ordinary item in net income. This is the only disposal of long term assets during the year. Depreciaiton expenses as reported in the income statement is $45,000. Cash dividends of $30,000 were declared and paid during the year; the transfer of net income to retained earnings was the only other entry in the Retained Earnings account.

Required:

1. Prepare the Financing section of the statement of cash flows for Pacific Corporation for the year 2020.

2. Prepare the Investing section of the statement of cash flows for Pacific Corporation for the year 2020.