Using the selected data below, calculate the net cash provided or (used) by investing activities: Net income: $225,000 Depreciation expense: $20,000 Loss on sale of building: $15,000 Cash proceeds from sale of building: $85,000 Purchase of new equipment: $60,000 A. $165,000 B. $25,000 C. ($60,000) D. $40,000

Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
ChapterMB: Model-building Problems
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Problem 14M
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Using the selected data below, calculate the net cash provided or
(used) by investing activities:
Net income: $225,000 Depreciation expense: $20,000 Loss on sale
of building: $15,000 Cash proceeds from sale of building: $85,000
Purchase of new equipment: $60,000
A. $165,000
B. $25,000
C. ($60,000)
D. $40,000
Transcribed Image Text:Using the selected data below, calculate the net cash provided or (used) by investing activities: Net income: $225,000 Depreciation expense: $20,000 Loss on sale of building: $15,000 Cash proceeds from sale of building: $85,000 Purchase of new equipment: $60,000 A. $165,000 B. $25,000 C. ($60,000) D. $40,000
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