Avatar Company Uses the Indirect Method to Prepare Its Statement

Multiple Choice

Avatar Company uses the indirect method to prepare its statement of cash flows and provides following information about transactions for the year:
• Plant assets, net-beginning balance: $90,000
• Plant assets, net-ending balance: $120,000
• Equipment costing $52,000 was purchased for cash
• Equipment with a net asset value of $10,000 was sold for $14,000
• Depreciation expense of $12,000 was recorded during the year
What was the net amount of Cash from investing activities?

A) $38,000 negative
B) $60,000 positive
C) $52,000 negative
D) $30,000 negative