In 2014, Maxi Office Supplies sold a plant asset that had an original cost of $54,000 and accumulated depreciation of $28,000 for $15,000 in cash. Which one of the following is one item to be reported on the statement of cash flows prepared using the indirect method?
A) An addition to net income in the operating activities section for $11,000
B) A subtraction from net income in the operating activities section for $11,000
C) A source of cash of $15,000 in the financing activities section
D) A use of cash in the investing activities section for $26,000
Correct Answer:
Verified
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