The Following Information Was Drawn from Empire's Year 2 and Year

question 76

Multiple Choice

The following information was drawn from Empire's Year 2 and Year 1 year-end balance sheets.Empire incurred a $1,500 loss on the sale of investment securities during Year 2. No investment securities were purchased during Year 2. Based on this information alone, what is the amount of cash that was collected from the sale of securities? $$\begin{array} { | l | r r | r r | } \hline & & 2014 & 2013 \\\hline \text { Investment securities } & \$ & 105,000 & \$ & 112,500 \\\hline\end{array}$$

• A)$7,500
• B)$6,000
• C)$9,000
• D)$1,500

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