Foxworth Company sold plant assets that had accumulated depreciation of $20,000.These assets cost Foxworth $70,000 when purchased 4 years ago.The sale of the assets resulted in a gain for Foxworth of $2,000.The amount of cash reported for this transaction on Foxworth's statement of cash flows is:

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The book value of the assets is $50,000 ($70,000 cost - $20,000 accumulated depreciation). With a gain of $2,000, the sale price (cash inflow) is $52,000 ($50,000 book value + $2,000 gain).

Foxworth Company Sold Plant Assets That Had Accumulated Depreciation of $20,000.These