The Good Corporation provided the following for the current year:
Good's income statement reported an $8,000 gain on sale of land as well as a $10,000 loss on the sale of marketable securities. A parcel of land costing $16,000 was sold for a gain of $8,000. No additional securities were purchased during the year. The company also sold equipment originally costing $6,000 with accumulated depreciation of $4,000 for a gain of $1,600. Purchases of additional land and equipment were cash transactions.Required:
Prepare the investing activities section of the statement of cash flows. Use the reconciliation approach.
Correct Answer:
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