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MKH Company Comparative Balance SheetsUse the following comparative balance sheets and additional information to answer questions (1) through (4).Additional Information for MKH Co. in 20X1:1. Net income for year 20X1 was $216,000.2. The company declared and paid a cash dividend of $132,800.3. The only posting to the net equipment account was for depreciation expense of $35,000 (i.e., no equip-ment was sold).4. MKH sold land worth $19,200 for $8,000 cash.5. The company retired $148,400 worth of bonds payable at the beginning of the year.1. What was the loss on the sale of landrecorded by MKH Company in 20X1?$11,2002. What were MKH Company’s cash flows from (for) operating activitiesin 20X1?$279,4003. What were MKH Company’s cash flows from (for) investing activitiesin 20X1?$8,000
4. What were MKH Company’s cash flows from (for) financing activitiesin 20X1?$(180,300)