this is a question from fundafin

Q3. The following are the comparative balance sheet and income statement of MRF limited. (a) Find net cash used by operating atrivities and net cash used by investing activities for the year ended Oetober 31,2017 , using the direct method. [12 marks] MRF Limited, Income Statement, Year Ended October 312017 Additio 1. Equipment (cost $4,500 and bock valua $3,000 ) was disposed of at the beginning of the year for $500 cash and replaced with is v equipment purchased for 54, ( 10 cash. 2. Adeit otal equipment was bougt for i 4,000 on November 1, 2016 in $12,000 note payable was sigind. The terms provide for equal uarn annual inslatlm in paymonts of $2,000 on laty 1 and November 1 of each year, pus interest of 5% on the outstanding principal balanci 3 Other equipmetrl was boughi for \$13 bop cash. 4. Prepaid expenses relate only to other cperating expensess