A company reported beginning plant assets,net of depreciation,of $645,000 and an ending amount of $732,500.Depreciation expense of $48,300 and a loss on the sale of equipment of $5,600 were reported on the income statement.The company acquired $213,000 of plant assets during the year.How much will be reported as cash received from the sale of equipment in the investing activities section of the statement of cash flows?

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The cash received upon the sale of the equipment was $71,600.Explanation:Beginning plant assets, net of depreciation = $645,000Ending plant assets, net of depreciation = $732,500Depreciation expense = $48,300Loss on sale of equipment = $5,600Acquisition of plant assets = $213,000Cash received from sale of equipment = ?Cash received from sale of equipment = Ending plant assets, net of depreciation - Beginning plant assets, net of depreciation + Depreciation expense - Loss on sale of equipment - Acquisition of plant assetsCash received from sale of equipment = $732,500 - $645,000 + $48,300 - $5,600 - $213,000Cash received from sale of equipment = $71,600

A Company Reported Beginning Plant Assets,net of Depreciation,of $645,000 and an Ending