Business, 09.09.2019 18:20 jamiria38

Illinois woodworking company is preparing its statement of cash flows using the indirect
method. during the year, illinois woodworking sold equipment for $6490 cash. the net book
value of the asset was $4770. which of the following statements is true?
a) the cash receipt of $6490 is shown as a positive cash flow in the investing activities section.
b) the gain on sale of $1720 is shown as a positive cash flow in the financing activities section.
c) the gain on sale of $1720 is added back to net income in the operating activities section.
d) the book value of the asset sold is shown as a negative cash flow in the investing activities
section.

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