In 2019, BayKing Company sold used equipment for $17,000. The equipment had an original cost of $80,000 and accumulated depreciation as of the date of sale was $60,000. BayKing also purchased held-to-maturity securities for $7,000. Net income for the year was $75,000. There were no other transactions conducted during the period.
1. What is the gain or loss on the sale of the equipment?
2. What are the 2019 net operating cash flows for BayKing?
3. What are the 2019 net investing cash flows for BayKing?

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The Answer of In 2019, BayKing Company sold used equipment for $17,000. The equipment had an original cost of $80,000 and accumulated depreciation as of the date of sale was $60,000. BayKing also purchased held-to-maturity securities for $7,000. Net income for the year was $75,000. There were no other transactions conducted during the period.
1. What is the gain or loss on the sale of the equipment?
2. What are the 2019 net operating cash flows for BayKing?
3. What are the 2019 net investing cash flows for BayKing?

In 2019, BayKing Company Sold Used Equipment for $17,000