Multiple Choice
Nickels Inc.prepares its statement of cash flows using the direct method.If Nickels sells equipment for a gain of $35,000 when the book value is $100,000,what amount will be reported on the statement of cash flows operating activities section related to this gain?
A) $0
B) ($35,000)
C) ($65,000)
D) $65,000
E) None of the answer choices is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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