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Business, 21.05.2021 17:20 Hunter1471

Reliance Corporation has provided the following information for the year ended December 31, 2019: The equipment account balance increased $202,000.
The equipment accumulated depreciation account balance increased $35,200.
Equipment costing $50,400 was sold during the year resulting in a $10,300 gain.
Depreciation expense recorded on the equipment during the year was $65,200.
Which of the following statements is correct with respect to determining cash flow from operating activities?
A. A $258,400 cash outflow is reported for equipment purchases.
B. A $62,450 cash inflow is reported from the equipment sale.
C. A $207,000 cash outflow is reported for equipment purchases.
D. A $51,400 cash outflow is reported for the equipment sale.

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Reliance Corporation has provided the following information for the year ended December 31, 2019: T...
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