UZI Final Exsin The following is the Balance sheet for PC Corporation LTD (in 000's) as at December 31, 2019: Current Assets: 2019 2018 Cash 300 160 Accounts receivable 325 225 Inventory 275 300 Total current assets 900 685 Property & Equipment: Equipment Accumulated depreciation Total property & equipment Total Assets 500 600 -260 -300 240 300 $1,140 $985 Liabilities and Shareholders' Equity: Current liabilities: Accounts payable 100 75 Accrued expenses 50 70 Taxes payable 30 20 Total current liabilities 180 165 Shareholders' Equity Common shares 300 200 Retained earnings 660 620 Total shareholders' equity 960 820 Total liab. and shareholders' equity $1,140 $985 Net income for the year was $75,000. Equipment that cost $100,000 with accumulated depreciation of $90,000 was sold $40,000. Net cash flow (used in) from investing activities was: Net income for the year was $75,000. Equipment that cost $100,000 with accumulated depreciation of $90,000 was sold $40,000. Net cash flow (used in) from investing activities was: ($40,000) ($100,000) $40,000 $100,000