1. Assuming that all non-cash transactions are material and that the entity follows the indirect method, which of the following items should only require disclosure as a non-cash transaction on the statement of cash flows?

a) The redemption of outstanding common shares

b) The sale of equipment with a net book value of $80,000 for proceeds of $70,000

c) Depreciation expense for the year totalling $100,000

d) A new construction contract resulting in decommissioning obligations for a total of $280,000