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Compute what amount should be reported as a cash flow

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Problem 1: A building that cost $82,000 when purchased was sold for $97,000 cash. The gain on sale was reported on the income statement as part of net income. On the Statement of Cash Flows, what amount should be reported as a Cash Flow from Investing Activities for the sale of the land?

Option 1: $15,000
Option 2: $82,000
Option 3: $97,000
Option 4: $112,000

Reference no: EM132736354

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