The excerpts that follow me adapted from fnancial statements of a Canadian not-for-proft organization click the leon to view the partial balance sheet and statement of cash flowe) Requirements 1. How much was the entity's cost of property, plant and equipment at March 31, 2017 How much was the carrying amount of property, plant, and equipment Show computations 2. The financial statements give four pieces of evidence that the entity purchased property, plant, and equipment and sold long-term investments during 2017. What is the evidence? 3. Prepare Taccounts for Property, Plant, and Equipment, Accumulated Depreciation, and sold Long-Term vestments. The show all the activity in these accounts during 2017. Label each increase or decrease and give its dolar amount 4. Why is depreciation added to net income on the statement of cash fows? 4. Statement of cash flows Depreciation Requirement 3. Prepare T-accounts for Property, Plant, and Equipment, Accumulated Depreciation, and Long-Term Investments. The show at the activity in these accounts during 2017 Label each increase or decrease and give to dollar amount Lor's prepare Taccounts for Property, Pant, and Equipment, Accumulated Amortization and Long-Term Investments for 2017 (Leave all unused boxes blank. Assume there are no gains or losses on sale of property, plant, and equipment. Also, assume no accumulated depreciation on assets sold) Property Plant, and Equipment Accumulated Depreciation 03/31/16 03/31/16 Purchased 7821 Depreciation 03/31/17 03/31/17 Long-Term Investments 03/31/16 Bol 03/31/17 Requirement 4. Why is depreciation added to net income on the statement of cash flows? Depreciation is added back to net income because it is a This net income but not cash. Therefore, adding depreciation back to net income helps to compute cash fow from Choose from any list or enter any number in the input fields and then continue to the next question ? March 31 2017 2016 (amounts in thousands) Balance Sheet Assets Total current assets. Property, plant, and equipment... Less accumulated depreciation... Long-term Investments 277,354 $ 261,185 68,451 61,230 (26,987) (22,745) 108,309 147,177 For the Year Ended March 31 2017 2016 $ 13,065 $ 15,332 Consolidated Statement of Cash Flows Operating excess of revenues over expense Non-cash items affecting net income: Depreciation.... Cash flows from investing activities: Additions to property, plant, and equipment Reduction of (addition to) long-term investments ... .. 4,242 3,765 (7,821) 38,868 (8,621) (96,315)