Exhibit 22-3 the Balance Sheet Accounts and Other Information Related $\$ 40,000$

question 19

Multiple Choice

Exhibit 22-3 The balance sheet accounts and other information related to those accounts are presented below for Tony Company:
Additional information related to 2011 activities:
1. Net loss for 2011 was $\$ 40,000$ .
2. Cash dividends of $\$ 12,000$ were declared and paid in 2011.
3. 4,000 shares of comunon stock were issued to bonchalders converting bonds payable into common stock.
4. A long-term investment was sold for $\$ 100,000$ cash
5. Equipment costing $\$ 100,000$ and having accumulated depreciation of $\$ 30,000$ was sold for $\$ 50,000$ cash

- Refer to Exhibit 22-3.Net cash provided (used) in the operating activities section of Tony's 2011 statement of cash flows was

• A)$(40, 000)
• B)$ 50, 000
• C)$ 52, 000
• D)$ 56, 000

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