You are presented with the following data from Jake Doyle Inc. for the year ended 31 December 20X1.

Additional information:
a. Sold property, plant, and equipment for cash. Cost of the assets was $ 236,000; net book value was $ 76,000.
b. Purchased equipment and exchanged unissued bonds payable of $ 120,000 in payment. c. Purchased other equipment for cash. d. Sold the long- term investments for cash.

Required:
1. Calculate cash paid for each of interest and income taxes. This is required under ASPE as separate disclosure.
2. Prepare the investing section of SCF and any disclosure notes for non- cash investing activities.

JAKE DOYLE INC. Statement of Financial Position 20x1 20X0 Change As at 31 December Debits Cash Accounts receivable Inventory Long-term investments Property, plant, and equipment $ 41,000 32,000 $ 9,000 196,000 60,000 256,000 342,000 393,000 (51,000) 1,000 (71,000) 1105000 960,000 145,000 Total debits $1.744.000 $1.652,000 Credits Accumulated depreciation Accounts payable Interest payable Income tax payable Bonds payable Common shares Retained earnings $ 484,000 124,500 3,250 49,550 300,000 300,000 482 700 576,000 (92,000) 201,500 77,000) (250) 2,550 180,000 120,000 250,000 50,000 94000 88,700 3,500 47,000 Total credits $1,744,000 $1,652,000 JAKE DOYLE INC Statement of Comprehensive Income For the year ended 31 December 20x1 Sales Cost of goods sold Depreciation expense Interest expense Income tax expense Other expenses Loss on sale of operational assers Gain on sale of investments $1,523,00 (689,000) (68,000) (16,800) (55,000) (457,200) (7.200) 6,540 236.340 Net earnings and comprehensive income