Gasco Corporation's balance sheet and income statement appear below: Cash dividends were $54. The company sold equipment for $14 that was originally purchased for $8 and that had accumulated depreciation of $1. It did not issue any bonds payable or repurchase any of its own common stock.
-The net cash provided by (used in)operating activities for the year was:
A)$261
B)$299
C)$214
D)$207

Question

Gasco Corporation's balance sheet and income statement appear below:   Cash dividends were $54. The company sold equipment for $14 that was originally purchased for $8 and that had accumulated depreciation of $1. It did not issue any bonds payable or repurchase any of its own common stock.
-The net cash provided by (used in)operating activities for the year was:
A)$261 
B)$299 
C)$214 
D)$207

Quizplus · Accepted Answer

Operating activities:
 11eaa48f_7afe_0e7b_9e4a_8d03853baa09_TB2485_00

Gasco Corporation's Balance Sheet and Income Statement Appear Below