The Fixed Assets account of Hamilton, Inc., shows: Fixed Assets, Net Beginning balance Purchase Ending balance 91,000

Question:

The Fixed Assets account of Hamilton, Inc., shows:

Fixed Assets, Net Beginning balance Purchase Ending balance 91,000 365,000 376,000 Depreciation expense Sale 30,000

Hamilton, Inc., sold fixed assets at an $18,000 gain. How much should Hamilton, Inc., report for the sale?

a. Cash flows from investing activities, $18,000

b. Cash flows from investing activities, $68,000

c. Cash flows from investing activities, $32,000

d. Cash flows from investing activities, $50,000 AppendixLO1

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