Connecticut, Inc. uses the indirect method to prepare its statement of cash flow

Question

Connecticut, Inc. uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet: Connecticut, Inc. Comparative Balance Sheet December 31, 2019 and 2018 Increase / 2019 $28,000 $22,000 Cash Accounts Receivable Merchandise Inventory Plant and Equipment Accumulated Depreciation-Plant and Equipment 2018 (Decrease) $6,000 32,000 39,000 (7,000) 26,000 29,000 123,000 91,000 32,000 55,000 (47000) (40,000) (000) O A. $(16,000) O B. $(169,000) O c. $16,000 OD, $169,000

Explanation / Answer

Equipment purchase for cash -66000 Proceeds from sale of equipment 50000 Net cash provided (used) by investing activities -16000 Option A is correct

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