Pierre Coreported $10,000 Cash Used in the Operating Activities Section of of the Cash

question 68

Multiple Choice

Pierre Co.reported $10,000 cash used in the operating activities section of the cash flow statement and the following data: amortization expense $10,000; an accounts payable increase of $12,000; a $3,000 decrease in accounts receivable; an increase in wages payable of $8,000; and a $15,000 gain on the sale of long-term investments.Pierre Co.'s net income\loss for the period was:

• A)$8,000 income
• B)$28,000 loss
• C)$38,000 loss
• D)$2,000 income