Selected changes to Balance Sheet accounts, information from the Income Statemen

Question

Selected changes to Balance Sheet accounts, information from the Income Statement and Details of certain transactions for Hi-Tech Inc. are as follows: Depreciation Expense $12,000 Cash Payment of Dividends $ 2,000 Cash Receipts for Sale of Stock 7,000 Cash Receipts from Sale of Equipment 18,000 Increase in Merchandise Inventory 5,000 Increase in Total Current Liabilities 13,000 Cash Purchase of Equipment 22,000 Net Income 50,000 What is the Cash provided or (used) from Hi-Tech's Investing Activities?

Explanation / Answer

The answer is "d. ($4,000)"

The Cash provided or (used) from Hi-Tech's Investing Activities = 18,000 - 22,000 = ($4,000)

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