Connecticut,Inc Additional Information Provided by the Company Includes the Following:
1)Equipment

question 129

Multiple Choice

Connecticut,Inc.uses the indirect method to prepare its statement of cash flows.Refer to the following portion of the comparative balance sheet: $\begin{array}{c}\text { Connecticut, Inc.}\\\text { Comparative Balance Sheet}\\\text { December 31,2019 and 2018}\\\begin{array}{|l|c|c|c|}\hline&2019 & 2018 & \text { Increase/(Decrease) }\\\hline \text { Cash } & \$ 27,000 & \$ 18,000 & \$ 9000 \\\hline \text { Accounts Receivable } & 34,000 & 35,000 & (1000) \\\hline \text { Merchandise Inventory } & 56,000 & 25,000 & 31,000 \\\hline \text { Plant and Equipment } & 126,000 & 90,000 & 36,00 \\\hline \begin{array}{l}\text { Accumulated Depreciation-Plant } \\\text { and Equipment }\end{array} & (45,000) & (43,000) & \underline{200} \\\hline \text { Total Assets } & \$ 198,000 & \$ 125,000 & \$ 73,000 \\\hline\end{array}\end{array}$ Additional information provided by the company includes the following:
1) Equipment was purchased for $69,000 with cash.
2) Equipment with a cost of $33,000 and accumulated depreciation of $7300 was sold for $46,000.
What was the amount of net cash provided by (used for) investing activities?

• A) $188,000
• B) $23,000
• C) $(188,000)
• D) $(23,000)

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Definitions:

Resource Substitutability

The degree to which different inputs (or resources) can be substituted for one another in the production process.

Economic Resource

Any good or service that can be used to produce other goods and services, including labor, land, capital, and entrepreneurship.

Factory Workers

Individuals employed in industrial production settings, operating machinery or assembling goods.

Retail Store

A business establishment that sells goods or services directly to the public, typically from a fixed location or online platform.