Jarvis, Inc What Is the Amount of Cash Provided by or Used

Multiple Choice

Jarvis, Inc. reported net income of $44,000 for the year ended December 31, 2015 Included in net income were depreciation expense of $8,400 and a gain on sale of equipment of $1,700. The equipment had an historical cost of $40,000 and accumulated depreciation of $24,000. Each of the following accounts increased during 2015: $$\begin{array} { l l } \text { Patents } & \$ 5,500 \\\text { Prepaid rent } & \$ 6,800 \\\text { Available-for-sale securities } & \$ 1,000 \\\text { Bonds payable } & \$ 5,000\end{array}$$ What is the amount of cash provided by or used by investing activities for Jarvis, Inc. for the year ended December 31, 2015?

A) ( $ 4,800)
B) $16,700
C) $11,200
D) $12,200