The following information has been extracted from Direct to You Corp.s (DYC) financial records for its year ending December 31, 20X2: Direct to You Corp. Statement of financial position As at December 31 20X2 20X1 Cash $ 160,000 $ 100,000 Investments in financial assets at FVPL 12,000 10,000 Accounts receivable 300,000 375,000 Less: allowance for bad debts and doubtful accounts (10,000) (15,000) Inventory 575,000 498,000 Property, plant and equipment 1,984,000 1,396,000 Less: accumulated depreciation (650,400) (487,000) Copyright 126,000 135,000 Patents 564,000 417,000 $ 3,060,600 $ 2,429,000 Accounts payable $ 81,000 $ 84,000 Income taxes payable 12,000 2,000 Bonds payable 659,500 674,000 Common shares 1,150,000 700,000 Retained earnings 1,158,100 969,000 $ 3,060,600 $ 2,429,000 Direct to You Corp. Statement of comprehensive income Year ended December 31, 20X2 Sales $ 2,511,100 Cost of goods sold (1,256,000) Gross profit $ 1,255,100 Depreciation of property, plant and equipment (334,400) Amortization of patents (65,000) Interest expense (75,000) Bad debt expense (20,000) Other expenses (185,600) Impairment loss copyright (9,000) Gain on sale of property, plant and equipment 23,000 Income before income taxes $ 589,100 Income tax expense (300,000) Net income and comprehensive income $ 289,100 Additional information: ? DYC prepares the cash from operating activities section of its statement of cash flows using the direct method. ? DYC elects to classify cash inflows from interest and dividends as operating activities, and the payment of interest and dividends as financing activities. ? The investment in financial assets at FVPL meets the criteria of a cash equivalent, and DYC elects to designate this investment as a cash equivalent. ? Property, plant and equipment that originally cost $570,000 was sold during the year. ? 100,000 common shares were issued in 20X2 to acquire $450,000 of property, plant and equipment. ? The decrease in the bonds payable account was due to the amortization of the premium. What is the amount that DYC will report as cash from investing activities on its statement of cash flows for its year ended December 31, 20X2? a) $433,000 cash outflow b) $498,000 cash outflow c) $521,000 cash outflow d) $948,000 cash outflow