Use the Information Below for Shorter Inc

question 4

Multiple Choice

Use the information below for Shorter Inc.for 2015 and 2016 to answer the following question. During 2016, Shorter Inc.sold equipment with a cost of $30,000 and accumulated depreciation of $25,000.A gain of $3,000 was recognized on the sale of the equipment This was the only equipment sale during the year.
Assume that all purchases of equipment were paid with cash.How much cash was paid by Shorter for the purchase of equipment during 2016?

• A)$ 7,000
• B)$30,000
• C)$37,000
• D)$72,000

---

Definitions:

Ethically

In a manner that is morally right or acceptable.

Antecedent Conditions

These are pre-existing factors or circumstances that influence the outcome of events or behaviors within an organization or system.

Humility

The quality of having a modest or low view of one's importance, often considered a valuable trait in leaders for fostering a collaborative and respectful environment.

Emotional Healing

The process of recovery and restoration of emotional well-being, often following trauma or psychological stress.