Marsh Company Owned an Asset That Had Cost $22,000

Multiple Choice

Marsh Company owned an asset that had cost $22,000. The company sold the asset on January 1, 2013 for $8,000. Accumulated depreciation on the day of sale amounted to $16,000. Based on this information, the sale would result in:

A) An $8,000 increase in total assets.
B) An $8,000 cash inflow in the investing activities section of the cash flow statement.
C) A $2,000 gain in the investing activities section of the statement of cash flows.
D) A $2,000 cash inflow in the financing activities section of the cash flow statement.