7. Hager Company sold some of its plant assets duri original cost of the plant assets was $900,000 and the accumulated depreciation at date of sale was $840,000. The proceeds from the sale of the plant assets were $90,000. The information concerning the sale of the plant assets should be shown on Hager's statement of cash flows (indirect method) for the year ended December 31, 2018, as a(n) A) subtraction from net income of S30,000 and a $60,000 increase in cash flows from financing activities. B) addition to net income of $30,000 and a $90,000 increase in cash flows from investing activities. C) subtraction from net income of $30,000 and a $90,000 increase in cash flows from investing activities. D) addition of $90,000 to net income. Use the following to answer question 8: The balance in retained earnings at December 31, 2017 was S1,440,000 and at December 31, 2018 was S1,164,000. Net income for 2018 was $1,000,000. A stock dividend was declared and distributed which increased common stock $500,000 and paid-in capital $220,000. A cash dividend was declared and paid. 8. The stock dividend should be reported on the statement of cash flows (indirect method) as A) an outflow from financing activities of $500,000. B) an outflow from financing activities of $720,000. C) an outflow from investing activities of $720,000. D) Stock dividends are not shown on a statement of cash flows