Martin Ceramics Company sold equipment for cash.The income statement shows a gain on the sale of $920.The net book value of the asset was $3,610.Which of the following statements describes the cash effect of the transaction?
A) negative cash flow of $4,530 for financing activities
B) negative cash flow of $2,690 for operating activities
C) positive cash flow of $4,530 from investing activities
D) positive cash flow of $2,690 from investing activities
Correct Answer:
Verified
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