Pierre Coreported $10,000 Cash Used in the Operating Activities Section of of the Cash

Multiple Choice

Pierre Co.reported $10,000 cash used in the operating activities section of the cash flow statement and the following data: amortization expense $10,000; an accounts payable increase of $12,000; a $3,000 decrease in accounts receivable; an increase in wages payable of $8,000; and a $15,000 gain on the sale of long-term investments.Pierre Co.'s net income\loss for the period was:

A) $8,000 income
B) $28,000 loss
C) $38,000 loss
D) $2,000 income