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C) Prepare the cash flow from investing section of the Statement of Cash Flow. Using T-accounts

D) What is the amount of cash dividends paid for the year ended December 31, 2020. Using T-accounts

X Co. had the following statements prepared as of December 31, 2020: X Co. Balance Sheet December 31, 2020 Cash Accounts Receivable Allowance for doubtful accounts Inventory Prepaid Expenses Equipment Land Building Accumulated depreciation FVTOCI Investments Patents 2020 57,000 58,000 (7,800) 40,000 5,000 154,000 120,000 115,000 (90,000) 25,000 70.000 546,200 2019 53,500 51,000 (4,500) 60,000 4,000 130,000 80,000 95,000 (82,000) 15,000 62.000 464,000 Accounts payable Wages Payable Income taxes payable Unearned revenue Long-term loans payable Common Shares Retained earnings Accum OCI - FVTOCI investments 46,000 2,000 4,000 25,000 60,000 130,000 275,800 3,400 546,200 40,000 2,200 6,000 50,000 69,000 130,000 168,000 (1,200) 464,000 X Co. Income Statement December 31, 2020 Sales Cost of Goods Sold Depreciation expense Amortization expense Wage expense Interest expense Bad debt expense Insurance expense Sales and general administrative expenses 2020 $568,000 195,000 60,000 10,000 35,000 11,400 8,000 5,000 13.000 230,600 Gain on sale of equipment Loss on sale of land Income before income taxes Income tax expense Net income Other comprehensive income Gain on FVTOCI Investments Total comprehensive income 2,000 (21,000) 211,600 63,400 148,200 5,000 153,200 Other information: The company exchanged shares for land having a value of $95,000 Equipment with a cost of $20,000 was sold during 2020. During the year the company acquired $ 19,000 in additional FVTOCI investments for cash. Land having a cost of $75,000 was disposed during the year

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