The following information is from Direct to You Corp.’s (DYC) financial records for its year ended December 31, 2020:

Select statement of financial position information:	2020	2019
Investments in financial assets (at fair value through profit or loss [FVPL])	12,000	10,000
Inventory	575,000	498,000
Property, plant, and equipment (PPE)	1,984,000	1,396,000
Less: accumulated depreciation	(650,400)	(487,000)
Copyright	126,000	135,000
Patents	564,000	417,000

Select statement of comprehensive income information:
Depreciation of property, plant, and equipment	(334,400)
Amortization of patents	(65,000)
Interest expense	(75,000)
Impairment loss — copyright	(9,000)
Gain on sale of PPE	23,000

Additional information:

• PPE that originally cost $570,000 was sold during the year.
• 100,000 common shares were issued in 2020 to acquire $450,000 of property, plant, and equipment.
• DYC is subject to IFRS.

What amount of net cash used in investing activities will DYC report on its statement of cash flows for the year ended December 31, 2020?

Question 19 options:

a)	$433,000 cash outflow

b)	$500,000 cash outflow

c)	$498,000 cash outflow

d)	$521,000 cash outflow

Answer rating: 100% (QA)

Cash flow Statements Investing Activities Workings Amount Cash receipts from Sale of PPE 2 422000 Ca... View the full answer