Rodriguez Inc. uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet: Rodriguez Inc.
Comparative Balance Sheet
December 31, 2014 and 2013
Additional information provided by the company includes the following:
1) Equipment costing $65,000 was purchased for cash.
"2) Equipment with a cost of $32,000 and accumulated depreciation of $7,000 was sold for $45,000.
What was the amount of net cash provided by (used for) investing activities?"
A) $120,000
B) $20,000
C) $(120,000)
D) $(20,000)
Correct Answer:
Verified
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