Essay
Fabulous Company had the following information for the year ended December 31,2015 and December 31,2016.
Depreciation expense for the year ended December 31,2016 was $18,000.Equipment that cost $20,000 was sold at a $3,000 loss.The equipment had accumulated depreciation of $10,000.
Required:
Prepare the investing section of the statement of cash flows for the year ended December 31,2016.Use the direct method.
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