Manning Tint, Inc

question 96

Multiple Choice

Manning Tint, Inc. uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet: Additional information provided by the company includes the following: 1. Equipment was purchased for $68,000.
2) Equipment with a cost of $36,000 and accumulated depreciation of $7,400 was sold for $50,000.
What was the amount of net cash provided by (used for) investing activities?

• A) $177,000
• B) $18,000
• C) $(177,000)
• D) $(18,000)