17. Zenith Corporation sells some of its used store fixtures. The acquisition cost of the fixtures is $12,500, the accumulated depreciation on these fixtures is $9,750 at the time of sale. The fixtures are sold for $5,300. The value of this transaction in the Investing section of the statement of cash flows is: a. $12,500 b. $5,300 c. $2,750 d. $2,550 18.In calculating cash flows from operating activities using the indirect method, a gain on the sale of equipment is a. added to net income. b. deducted from net income. c. ignored because it does not affect cash. d. reported supplementally as a non-cash investing and financing activity 19 Cash flows from investing activities, as part of the statement of cash flows, include receipts from the issuance of bonds payable. a. True b. False 20.Rogers Company reported net income of $35,000 for the year. During the year, accounts receivable increased by $7,000, accounts payable decreased by $3,000 and depreciation expense of $8,000 was recorded. Net cash provided by operating activities for the year is a. $53,000. b. $47,000. c. $33,000 d. $37,000. 21.On the statement of cash flows, the cash flows from operating activities section would include a. receipts from the issuance of capital stock b. payment for interest on short-term notes payable c. payments for the purchase of investments d. payments for cash dividends