Pierre Co.reported $10,000 cash used in the operating activities section of the cash flow statement and the following data: amortization expense $10,000; an accounts payable increase of $12,000; a $3,000 decrease in accounts receivable; an increase in wages payable of $8,000; and a $15,000 gain on the sale of long-term investments.Pierre Co.'s net income\loss for the period was:
A)$8,000 income
B)$28,000 loss
C)$38,000 loss
D)$2,000 income

Question

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The Answer of Pierre Co.reported $10,000 cash used in the operating activities section of the cash flow statement and the following data: amortization expense $10,000; an accounts payable increase of $12,000; a $3,000 decrease in accounts receivable; an increase in wages payable of $8,000; and a $15,000 gain on the sale of long-term investments.Pierre Co.'s net income\loss for the period was:
A)$8,000 income
B)$28,000 loss
C)$38,000 loss
D)$2,000 income

Pierre Coreported $10,000 Cash Used in the Operating Activities Section of of the Cash